It seems that the Bitcoin currency refuses to deviate much from the circle of investor concerns, reaching its highest level not seen in more than two years this week after nearly a month of quiet trading, amid signs that it has become a semi-permanent member in the scene World Finance
as the world's largest cryptocurrency breached the $ 12,000 barrier, which is seen as a key level, surpassing it means achieving more gains, to achieve a November close of more than $ 13,700 for the first time since early 2018, to $ 16,300. Next goal
And with optimism about crypto assets after many companies and institutions announced their intention to rely on digital currencies, Bitcoin added 30% to its value this month only to raise its gains to more than 85%, hitting the throne of the best performing assets this year. / p>
(Bitcoin performance since the beginning of this year)
as the electronic currency benefited from the turmoil caused by the Corona pandemic to the global economy and the depreciation of the dollar this year as investors considered it a good hedge, although it is still known for its fluctuations, and Bitcoin gained more momentum recently after the PayPay company announced However, it will allow cryptocurrencies to be accepted and used for commercial payments, indicating that customers on its platform will be able to purchase goods and services using certain electronic currencies chosen by the payment company, namely Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Just as those interested in digital currencies see that PayPal’s decision gives Bitcoin and its comrades more ground on the global stage, the CEO of the payments company says that the efficiency, speed and flexibility of these currencies give individuals financial inclusion and access to many advantages, describing the transformation The ultimate from physical currency to its digital counterpart is inevitable.
PayPal is not the only company that is betting on cryptocurrencies, as the Square Cash platform spent $ 50 million to buy more than 4,700 Bitcoin earlier this month, especially after it achieved a massive 600% increase in Bitcoin revenues. To reach 875 million dollars during the second quarter of this year. Square Cash, which has started supporting electronic currency since the end of 2017, attributed this increase to the rise in the number of new active Bitcoin customers and the increase in demand for digital currency as the epidemic fueled a boom in the online payments industry and companies because many worried consumers From Coronavirus they avoid using cash.
Also, the plans to adopt PayPal for cryptocurrencies and the gains made by these currencies since the announcement of this did not come out of thin air, as they came as a glorious event for Bitcoin and its counterparts as it will be available to a total of 346 million users on the platform of the American Payments Company, For more than 26 million merchants, the important step is expected to be implemented in the coming weeks.
In fact, PayPal's move was not the only motivation behind cryptocurrencies gaining more glamor recently, but rather the god ...
