Bitcoin (BTC) received a major crypto boost that led it to reach a new high in 2020, where will it go? mass adoption?
Yesterday the leading crypto, Bitcoin (BTC), managed to break the key level of $12,000 for the third time in 2020. The question at the moment: will it manage to stay? And today Bitcoin surprised us all after setting a new record for 2020.
Bitcoin Gets a Boost to the Moon
Today PayPal announced that its customers will soon be able to buy, sell, and even spend Bitcoin and other crypts. What?!
„The shift to digital forms of currency is inevitable, bringing clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payment system; and the ability of governments to disburse funds to citizens quickly,“ said Dan Schulman, PayPal’s president and CEO.
Let’s keep in mind that PayPal is one of the largest payment providers in the world today. In fact, according to Statista, it has 346 million active accounts and $222 billion in processed volume in the second quarter of 2020. The impact of this news is huge!
Right now, Bitcoin’s price stands at USD 12,767, a 6.94% increase in the last 24 hours.
Just think of the possibilities for crypto. Basically, the doors have just been opened to 346 million people; the possibilities in terms of adoption are incredible.
This is how PayPal managed to push Bitcoin to set a new record in 2020.
The news wasn’t exclusively positive for Bitcoin. Wall Street also reacted positively, driving PayPal’s share price (PYPL) to $215.87, surpassing its previous record high of $212.38.
Bitcoin surpassed $12,000
1.8 million BTCs have been inactive for more than 10 years
According to Glassnode’s data, 10% of the total Bitcoin supply has been idle for more than 10 years; this means that more than 1.8 million of the leading crypto, or $22 billion, has not been moved in that time.
The average value of each Bitcoin transaction (BTC) increased 500%.
Leading crypto is more popular on Reddit than sex
A user on Reddit noted how the world has changed after r/Bitcoin reached 1,707,705 million subscribers. While r/sex has just over 1.7 million.
This means that in the Redditor community, leading crypto is even more popular than sex.
Number of Bitcoin addresses with more than 100 BTC reaches a maximum of 6 months
OKEx resumes certain operations, but not the crypto withdrawals
After much controversy and uncertainty, the OKEx crypto exchange announced that it has reopened the ability to purchase crypto as well as its P2P service. However, crypto withdrawals remain suspended.
For the moment, information about what happened with OKEx is really vague. Yet the crypto exchange has assured the public multiple times that their funds are safe.
Blow to Bitcoin: OKEx Suspends Withdrawals but Funds Go In and Out
In a few lines…
Wirex, Mastercard’s first crypto partner, has enabled subscriptions for its multi-currency Mastercard as it plans to launch it in the UK in November.
CasperLabs, Ethereum’s blockchain of proof-of-stake and competition, raised $14 million in a crypto sale.
Kidnappers in Argentina asked for Bitcoin in exchange for releasing a merchant.