Since PayPal announced the addition of Bitcoin (BTC) to the platform, the asset’s market value has surpassed PayPal itself. Sarcastically?

At the time of the press release, Bitcoin’s market cap was $ 239,877,416,968, recently overtaking PayPal on the AssetDash list of major stocks, ETFs, and cryptocurrencies. Bitcoin currently ranks 21st on the list, with PayPal just under $ 238,578,822,000.

When a company, asset, or otherwise outperforms a competitor in valuation, cryptocurrency broadly refers to the event as a “coup.” In 2017, a number of people speculated about the possibility of trading Ethereum (ETH), causing the market value of ETH to rise above BTC. Since the time of the press, no cryptocurrency has changed Bitcoin’s market value.

On October 21, PayPal confirmed rumors that PayPal plans to add Bitcoin, Ethereum, Bitcoin Cash (BCH), and Litecoin (LTC) to its list of payment methods in 2021. When it uses it for transactions, the assets are automatically converted to cash in the backend. For recipient merchants.

Bitcoin showed noticeable price action after the news, which appeared to be the catalyst that pushed the asset’s price higher after a series of bullish days over the past 48 hours, bitcoin’s price rose by more than $ 1,000.

Source: CoinTelegraph