Bitcoin a Daily Currency According to PayPal CFO

In a recent interview with the Wall Street Journal on the 19th of February 2018, the chief financial officer of PayPal, John Rainey has declared bitcoin will become the future of payments and a daily currency.

PayPal was one of the first companies to accept Bitcoin back in 2015 utilising the Braintree platform.

In a segment of the interview dubbed “the crypto factor”, PayPals CFO John Rainy was asked to comment on wether or not its likely PayPal will accept Bitcoin. He was also asked his opinion as to wether or not cryptocurrencies including bitcoin will become currency for the everyday. He went on to say;

The technology, there is a real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day

Although he made comment as to the future merit of bitcoin as a payment gateway, he raised concerns over the high volatility in the market and risk of receiving parties incurring loses.

The recent volatility and decline of Bitcoin can be somewhat attributed to government policy when it comes to cryptocurrency but we can now see prices bouncing back with positive news from South Korea and the United States in recent days.

With more acceptance of cryptocurrencies like bitcoin from not only government entities but also major corporations like PayPal, shows that cryptocurrencies wether it be Bitcoin or the technology behind it, has a bright future ahead.

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