PayPal and the Bitcoin Bull Run: The Opinion-ECHO
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The news around the PayPal adaptation of Bitcoin sends the crypto currency towards the moon. The Community is pleased about bullishe messages – warns however of too much enthusiasm. The opinion Echo.
Last Wednesday, October 21, PayPal dropped the bomb. Because as we had already reported, customers of the payment service provider can in the future trade and even pay crypto currencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) on the platform.
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The message falls into a time, in which it does not lack at bullish Bitcoin messages anyway. Since Microstrategy announced at the end of September that it had purchased more than 38,000 BTC on the open market, events have been tumbling. With each day the list of the enterprises, which stand friendly opposite crypto currencies grows.
However, PayPal can confidently take up the cause of the latest BTC price rally. Because since publication of the press release the course of the Kryptowährung No. 1 knows only one direction: Namely north.
In the Bitcoin Community one celebrates the doubtlessly bullish news by the majority. Occasionally however also critical voices, which criticize for instance that PayPal does not permit the withdrawal of the Krypto value expressly, announce themselves. Users thus hand over their responsibility to the payment service provider – there can be no question of monetary sovereignty.
Angel investor Stephen Cole articulates the displeasure of the community on Twitter like this:
Is the PayPal message bullish for Bitcoin and am I happy about it? Yes. Should you ever buy Bitcoin via PayPal? Lol No
Billionaire Jones is a Bitcoin cop
Also billionaire and Hedgefonds manager Paul Tudor Jones confirms his reputation as a Bitcoin bull.
I think Bitcoin is a great protection against inflation. Bitcoin has an enormous contingent of really, really smart people. An investment in BTC is comparable to an Apple or Google investment in the early days,
Jones said on the CNBC show Squak Box.
Paul Tudor Jones only came into the picture as a proponent of the No. 1 crypto currency this year, when the manager first brought Bitcoin into play as an inflation hedge in May.
In a letter to the investors it says:
The possession of Bitcoin is a great possibility to protect itself in the current market environment from loose monetary policy and high indebtedness.
Paul Tudor Jones
Saylor sets the sails
There is also news from the darling of the Bitcoin scene, Microstrategy CEO Michael Saylor. In the recent debate with Bitcoin skeptic Keith McCullough in his show hedgeeye, Saylor gives the Bitcoin value promise to the best.
Quite a number of people do not consider the officially measured inflation rate to be correct. If you add asset price inflation, for example, you are more likely to get 15-20 percent inflation per year. Economic models that do not take this into account are wrong. Bitcoin goes to the moon.