The PayPal CEO Dan Schulman admitted he owns and HODLs bitcoin during an interview where he also explained why he decided to withdraw from Facebook’s Crypto project. So Let’s find out more in our Bitcoin news today.
In the recent interview with Fortune, the PayPal CEO Dan Schulman shared his views on crypto and revealed all o the interesting insights into the work that his company is doing in the field. He said that there is a lot of promise in the blockchain technology and that his company finds it intriguing. However, he also explained that today’s existing systems are already efficient and the benefits of blockchain technology could even revolve more around the identity rather than efficiency. Furthermore, he added that there has been a lot of demand for cryptocurrencies by merchants who use his platform because of the high volatility:
“That doesn’t mean that I don’t think crypto is an interesting idea and that people are trading it quite a bit. It’s more commodity-like than it is cash-like right now. But you can think of use cases in different countries and different places where it can be more stable than the alternatives.”
When he was asked whether he personally owned any cryptocurrencies, Dan Schulman admitted that he did own Bitcoin and no other cryptocurrency. As was reported previously, PayPal was one of the first companies that left Facebook’s Libra association and he shared some interesting information on the matter.
According to him, when David Marcus, the head of Libra first announced the idea of Libra to PayPal, it was something that the company found very interesting and promising but as they did the research further, they found that there is a lot of that has to happen for it in order to receive the needed acknowledgment. Schulman also said that PayPal’s own roadmap requires a lot of focus and that the company made more sense to channel the resources in their own direction. The CEO also said that it is not up to question for the two companies to join forces later on.
As previously reported, the US-based banking giant Bank of America closed the account of the now Former PayPal CFO (chief financial officer) prompting the crypto sphere to share some of the similar stories and a solution to the issue Bitcoin.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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