Digital Fiat Currency Will Replace Paper Money-PayPal CEO
When asked about the threat to Bitcoin [BTC] from finance regulators PayPal CEO today in an interview to CNBC said that central banks will replace paper money with Digital fiat currencies that include cryptocurrencies, CBDCs and other stablecoins. It is to be noted that Paypal recently allowed users to buy Bitcoin [BTC] using fiat currency on Paypal.
Can Regulators Make Bitcoin [BTC] Obsolete?
One important point made by PayPal CEO Dan Schulman is that even in case if government regulators are against bitcoin [BTC] adoption we will still have forms of digital fiat currencies like CBDCs, cryptocurrencies and stablecoins.
"As paper money slowly dissipates and disappears from how people are using transactions, central banks especially on the retail side will need to replace paper money with forms of digital fiat currency," says @PayPal CEO Dan Schulman. pic.twitter.com/pLuvc2RxPY
— Squawk Box (@SquawkCNBC) November 23, 2020
He is positive about the fact that declining dependency on paper money in retail will boost the adoption of digital alternatives to paper money. He confirmed that PayPal is working hand-in-hand with govt. authorities as they make is more easier to use digital currencies like Bitcoin [BTC] for daily transactions.
He said,
PayPal will make it easier for users to use crypto as a funding source.
Recent news that Paypal is enabling purchase of Bitcoin [BTC] on their platform was bullish and played a key role in supporting the ongoing Bitcoin bull run. Not only PayPal large Wall Street player like JP Morgan, Paul BlackRock etc. are also bullish on Bitcoin [BTC].
Keep reading. Stay safe.
- Why is Crypto Market Up Today (Oct 24)
- Breaking: 21Shares Amends Sui ETF with Staking, Nasdaq Listing, Other Key Details
- Binance’s Changpeng Zhao Takes on Senator Elizabeth Warren On False “Fraud” Allegations
- Trump Tariffs: Crypto Market Volatility Looms As US President Terminates Trade Talks With Canada
- Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK