CFO of PayPal: bitcoin is very likely to become a popular means of payment
PayPal CEO John Rainey has a positive attitude towards the use of bitcoin (BTC) as a means of payment.
He said this during an interview for the Wall Street Journal (WSJ), published on Monday, February 19.
In an interview section called “crypto Factor”, Rainey said PayPal was one of the first companies to start accepting bitcoin for payment on their Braintree platform back in 2015. However, Rainey adds:
Given the volatility of bitcoin at the moment, it is not the most reliable currency to make transactions, because if you are, for example, a seller, and you have a 10 percent margin, and you accept bitcoin, and the next day bitcoin falls by 15%, then this transaction becomes unprofitable for you.
Answering a question about whether cryptocurrencies will ever be popular as payments, Rainey replied that the probability of this is ” very high”:
Technology, it’s because of it that it can happen. However, I believe that until the moment that cryptocurrency will be used as an everyday method of payment we will have to wait a few more years.
PayPal co-founder Max Levchin said last December that although he believes that blockchain technology is revolutionary, He has not yet decided on his opinion about the future of bitcoin.