When PayPal announced that it started the period of payment with cryptocurrencies, this was generally seen as a development that was interpreted in favor of the cryptocurrency industry. But then concerns surfaced that some restrictive policies could be pursued.
Global financial giant PayPal announced that it has started the payment period with cryptocurrencies for its users in the United States. He interpreted the development as the “acceptance of cryptocurrencies” and Bitcoin managed to climb to the highest level of $ 13,200 this year with the impact of PayPal news.
People will be able to use PayPal wallets for trading cryptocurrencies and pay with cryptocurrencies at negotiated points, but; users will not be able to withdraw their crypto money. It is because of this factor that some market commentators have argued that the PayPal development is not such a big deal. But according to Adam Cochran, the PayPal move is much bigger than expected; A golden age may begin for cryptocurrencies with possible agreements that can be made or with companies to be added by PayPal.
“We underestimated PayPal’s move”
Cinneamhain Ventures partner Adam Cochran examined PayPal’s move with a series of tweets he shared on his Twitter account and made some claims thanks to his own resources.
Cochran, who started his statements with allegations that PayPal was negotiating with more than a dozen cryptocurrency companies, claimed that the talks were not only for consulting on the industry. Cochran said he was unable to confirm their names, but said PayPal has been meeting with companies that hold blockchain and tokens.
In direct proportion to the rumors circulating in the industry without an official statement, Cochran stated that the developments such as PayPal’s takeover of the Bitcoin business and considering agreement with companies such as BitGo are a huge step. “I can safely say that we underestimated how seriously Paypal took the cryptocurrency space and how far they went in their research,” Cochran said in a tweet.
According to Adam Cochran’s claims, even if PayPal does not buy one of the companies they talked to, we could step into the era of merger (M&A) of companies that will carry cryptocurrency to billions of users and institutions.
Adam Cochran, with his latest tweet, emphasized how big a development this is and suggested that the cryptocurrency industry is about to explode.