PayPal’s chief financial officer believe Bitcoin could become a popular payment option

Bitcoin could become a future popular option for payments, according to PayPal’s chief financial officer, John Rainey.
“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction.”
In response to the question if cryptocurrencies will ever be popular as a payments, Rainey tells WSJ that there is “a very high likelihood” of that happening: “The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”




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