In case you lost, the CEO of PayPal, Dan Schulman, is optimistic about bitcoin as a real currency. Luckily for him, the PayPal will soon allow his network of merchants to accept bitcoin payments. Appearing on CNBC's Squawk Box on Monday, Schulman said the usefulness of bitcoin as a currency will coexist with its buying and maintenance status. The CEO also said that the central bank's digital currency is a global inevitability, although this may increase the usefulness of bitcoin. "I think there will be more and more use cases for cryptocurrencies" that make bitcoin more widely accepted, more stable and probably "more valuable" over time.
JPMorgan analysts say institutions are investing in bitcoins at a stronger pace this quarter than in the third quarter, according to the banking giant's "Flows & Liquidity" report. Published on Friday, the analyst's report likets institutional and retail buying. For example, in the third quarter, retail customers bought $1.6 billion in bitcoin using Square's Cash app, nearly three times more than what was invested in the grayscale bitcoin product.
Although in the fourth quarter, the Bitcoin Trust in shades of grey is with three times its numbers in the third quarter. To be sure, Square has not yet released figures related to customers' bitcoin purchases in the fourth quarter. (Shades of grey, like CoinDesk, is the full property of the Digital Currency Group).
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