It’s been quite a week for Bitcoin, a week we’ve been waiting for. The coin is up nearly 13% and burst through the $13,000 barrier. Some of that support came from PayPal’s decision to enable cryptocurrency purchases, a move that sent its stock soaring. The company will need that kind of rise to stay ahead of the coin’s value. Bitcoin’s valuation is now just one behind the payments processor that lets people trade it. Traders, though, expect that Bitcoin will slow down after that strong rally, which has allowed the coin to regain its cryptocurrency dominance. Some experts think that …

Galaxy Digital CEO and multi-millionaire Mike Novogratz recently hopped on CNBC Squawk Box for an interview, detailing the importance of PayPal's Bitcoin launch. "I think that's, in some ways, the shot heard around the world on Wall Street," Novogratz said in an Oct. 23 interview about PayPal's recent news. "PayPal has 346 million accounts," he said, adding: "They're the 30th biggest bank in the U.S. in deposits and all of a sudden every financial institution says, 'Wait a minute, what am I doing?'" PayPal unveiled the addition of Bitcoin, Ethereum, Litecoin and Bitcoin Cash to its network on Oct. 21. …

A line from immortal comic strip Calvin & Hobbes goes “a good compromise leaves everybody mad.” When it comes to laws governing crypto, authorities are usually asking for pretty major compromises because they are, at their very best-intentioned, trying to work things out. While it’s a fast-developing area of law — honestly a treat to cover — that means it’s fast-developing relative to law, not tech. There is an innate conservatism to anything having to do with how people handle their money. That extends to laws governing how money and investments function. Consequently, everything regulators touch in crypto develops slower …

Global payments firm PayPal is looking to acquire a crypto asset custody firm, with a report published by Bloomberg on Oct. 23 claiming the company is currently in talks with BitGo Inc. Anonymous sources cited in the report claimed that the two companies may reach an agreement within a matter of weeks. BitGo is a multi-signature custodian that was founded in 2013. In 2018, the company raised $15 million in a round led by Goldman Sachs and Galaxy Digital. However, the deal is believed to be far from certain, with the report noting: “Talks could still fall apart and PayPal …

Bitcoin (BTC) price has again punched through the $13,000 mark after yesterday’s PayPal’s announcement sparked a powerful rally which drove the price to a new 2020 high. Currently sitting near $13,100, Bitcoin price has rallied nearly 10% since the announcement and BTC is now close to overtaking PayPal as the 21st biggest asset by market capitalization. PayPal’s crypto announcement comes two weeks after Square, another payments giant, announced its own foray into Bitcoin by investing roughly 1% of its assets into Bitcoin. According to Lanre Jonathan Ige, a researcher at 21Shares, the continuing trend of large sized investments will be …

While many in the industry were pleased with Bitcoin’s surge past $13,200 following an announcement that PayPal intends to integrate crypto into its network, some fail to see any benefits beyond the immediate price movement. According to an Oct. 21 blog post from Satoshi Labs, the team behind the crypto hardware wallet Trezor, PayPal’s push to start selling Bitcoin (BTC), is “probably not because they want to spur healthy adoption.” Their arguments are similar to ones made by many crypto holders against storing digital assets on exchanges, i.e. “not your keys, not your coins.” “If millions of newcomers are onboarded …

Bitcoin price has seen a healthy upward tick toward the $13,000 mark in the fourth quarter. At the start of the quarter, Bitcoin (BTC) was in the sub-$11,000 region, and from there, constant rises took the price to the $13,000 mark on Oct. 21 for the first time this year. The price rallied to $13,217, a record high for 2020, before falling to around the $12,750 mark. This upward price movement is certainly indicative of the bullish sentiment held by investors in the current market. Rising hash rate a bullish sign? The Bitcoin hash rate has also been constantly increasing …

Since PayPal announced adding Bitcoin (BTC) to its platform, the asset's market cap has exceeded that of PayPal itself. Ironic? At press time, Bitcoin holds a market cap of $239,877,416,968, just recently surpassing PayPal on AssetDash's list of the largest stocks, ETFs, and crypto assets. Bitcoin now holds the 21st spot on the list, with PayPal right below at $238,578,822,000. Whenever a company, asset, or otherwise overtakes a rival in valuation, the crypto space loosely refers to the event as a "flippening." In 2017, a number of folks speculated on a potential Ethereum (ETH) flippening, which would see ETH's market …

The price of Bitcoin (BTC) surpassed $13,000 for the first time since June 2019. The optimism around PayPal supporting crypto purchases led the overall market sentiment to brighten within a short period. Immediately after the PayPal news was reported, the price of Bitcoin increased from $12,300 to $13,200 at the day’s peak. Although the medium-term outlook of the cryptocurrency market remains positive, analysts are not dismissing the likelihood of a pullback. Bitcoin surged 25.5% within a 13-day span from Oct. 8. Initially, the BTC rally began as profits from altcoins and decentralized finance tokens cycled into BTC. Some industry players …

Global digital payment giant PayPal might be moving into issuing its own cryptocurrency after officially entering the crypto industry, according to a major industry exec. Meltem Demirors, CSO at digital asset management firm CoinShares, says that she will not be surprised if PayPal issues its own token after the company broke the news of its soon-to-come support for crypto.. In an Oct. 21 interview with CNBC’s Fast Money, Demirors claimed that PayPal’s supporting crypto could eventually become a basis for launching its own, stating: “I wouldn’t be surprised if, in the next six to 12 months, we see PayPal launching …

The news that payments company PayPal will support cryptocurrencies has given the industry a major boost — but there are tax implications that are little understood by crypto noobs. PayPal users will soon be able to use digital assets as a funding source for purchases at its 26 million merchants worldwide. The company has almost 350 million active users worldwide and Alex Mashinsky, the CEO of crypto lending platform Celsius, has predicted the integration could result in “millions of new users” getting into crypto. Unfortunately, they could face a tax nightmare arising from the volatile nature of crypto assets and …

Bitcoin (BTC) has rallied above $13,000 for the first time since July, and only the third time since the all-time high bull run of late-2017. The move follows the long-sustained period of five-figure price action, with BTC having spent nearly the entirety of the past 12 weeks trading above $10,000. The spike was triggered by news that the global payments giant PayPal is launching support for Bitcoin, in addition to Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Quantum Economics founder Mati Greenspan said the rally was almost entirely driven by PayPal. “There’s no doubt in my mind that this …