Bitcoin is returning to the old heights. The price has more than quadrupled since the last listing in February 2019.
Those who bought bitcoin when the weather was on hold in early 2019, can now collect about 400 percent.
Cryptocurrency communities are facing a flow of large commercial players who wish to enter the market.
Last week, giant PayPal announced that it will offer buying, selling and trading in cryptocurrencies.
In the environment, it is taken as the final sign that the cryptocurrency is growing.
“This is the biggest news of the year in cryptocurrency. All banks will follow suit. We crossed the Rubicon, folks. A fantastic day,” tweeted crypto veteran Mike Novogratz when the news was released.
The PayPal news also came shortly after another big crypto news, which Google announced is making it easier to use its cloud platform for crypto extraction.
Bitcoin’s exchange rate before the weekend was around $ 13,000, which is close to quadrupling from the lowest level of $ 3,500 in early 2019.
The recovery also reinforces the hopes of crypto enthusiasts to return to the $ 19,783 peak in January 2019.
First in the United States
Paypal promises that cryptocurrency trading will be available to anyone with a U.S. account within a few weeks, and the service will be expanded to more countries in 2021.
– This news only reinforces the impression that we are now in a new phase. Several important players will come with news soon. Many had been making plans for a long time, but didn’t want to be the first, says IT consultant and crypto expert Bjørn Omsland.
– There are many signs indicating that the price of Bitcoin will continue to rise, and will likely be well above the previous peak in 2021.
Paypal has 346 million users worldwide, 26 million corporate customers and is the 20th largest bank in the world in deposits.
In the second quarter of 2020, a total of $ 222 billion passed through PayPal’s payment system.