The list of publicly traded companies keeping assets in BTC is growing:Very interesting. Square bought $50 million in bitcoin representing 1% of its cash.
Over $6.7 billion of Bitcoin is now held by public companies, including US software giant MicroStrategy; asset manager Galaxy Digital, and Jack Dorsey’s payment processing platform, Square, according to Bitcoin Treasuries. This amount includes some companies holding the Bitcoin on behalf of their investors, like asset manager Grayscale Investments.
According to some articles I've seen online today, Paypal is not sharing keys with users, so you won't even be able to transfer BTC to/from PayPal, just able to buy/sell from Paypal to hold them in your Paypal account.How long do you think it will be until we get a "poor schmuck's Paypal gets hacked, loses $50,000 in Bitcoin" headline? 3 months? 6?
Which is understandable (for now). On top of being nearly impossible to recover stolen funds out of a user's account (or bank account) that's been transferred out via Bitcoin, losing Bitcoin themselves could be catastrophic. They'll need to beef up security and user verification first before they can allow crypto withdrawals. Coinbase and other exchanges have made it work but they've had years to figure it out in practice. And if all you care about is being exposed to the price of Bitcoin, then PayPal is an option. I'm sure at some point PayPal will try to expand its capabilities: there's too much potential profit not to.According to some articles I've seen online today, Paypal is not sharing keys with users, so you won't even be able to transfer BTC to/from PayPal, just able to buy/sell from Paypal to hold them in your Paypal account.
Yeah, but you're combining one of the worst run and fraud prone money transfer services with the favorite form of payment for hackers and drug dealers. What could go wrong?It's not like Paypal hasn't had 2+ decades of ebay scams, phishing scams, etc to deal with and they are new to the hacking game. I doubt opening up to Bitcoin addresses, after already supporting a multitude of currencies, is going to leave them dumbfounded.