Venmo, PayPal, Cash App: Who Is Next To Support Bitcoin, Crypto

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Toward the ending of 2020, financial experts predicted that the adoption of cryptocurrencies by the mainstream would evolve, evidenced by the surge in price and acceptance of Bitcoin as an inflation hedge. Since the start of the year, fintech companies such as PayPal, Square, Mastercard, Visa, and others have shown exposure to cryptocurrencies. The latest to join those ranks is Venmo. A Sudden Mad Dash To Support Crypto Strategic Crypto-related investments and initiatives by these firms have created a growing widespread acceptance among users who would have found it difficult to invest in cryptocurrencies. After adding crypto features on their respective apps, Square and PayPal have allowed crypto trading on their mobile apps. Cash App started trading Bitcoin in 2017. It is on track to realize over $100 million of annualized gross profit from only Bitcoin trading. Although this is less than 5% of Cash App gross profit annually, it’s…

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