Bitcoin PayPal Volumes Cross $100 Million

itbit paypal bitcoin volumes jan 6 2021

Bitcoin buying and selling volumes at PayPal have increased 5x since November, up from about $20 million to now more than $100 million (pictured above). Revealed by itBit, PayPal’s provider, volumes now are up 10x since before PayPal launched, increasing from $10 million to $113 million for today. That shows significant demand at the global platform with some 340 million users just weeks after it launched bitcoin buying and selling. It is expected to soon begin rolling out bitcoin payments to its 26 million merchants, something that should make paying with bitcoin or eth ubiquitos. That has contributed to a bull run with bitcoin’s price crossing $35,000, a new all time high, as these PayPal volumes show it’s not just institutional investors driving the price, but the general population too. These are paper bitcoins in as far as you can’t actually withdraw them from the platform, but each purchase on…

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