PayPal (PYPL) reached $ 215.87 on October 21, several dollars below the record high of $ 212.38 set on September 2, 2020, according to TradingView.

This price movement came shortly after the payment company announced that it would soon include cryptocurrencies on the platform. PayPal plans to integrate Bitcoin (BTC), Etheruem (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) offerings into its network in 2021.

Opening the trading day at $ 206.20, PayPal climbed quickly over its full-time, but barely – and broke the level of about $ 0.14. The stock then fell lower before convincingly breaking the previous high and breaking $ 215.

Bitcoin also took advantage of the PayPal news and hit the $ 12,900 mark, up $ 1,000 in over 24 hours. The price dropped again to $ 12,750 at the time of publication.

However, not everyone was a fan. Cryptoanalyst PlanB tweeted the news as an anti-climate, saying customers will not be able to transfer their digital assets outside of PayPal based on the company’s FAQ page. The page says, “At this time, you can only store the cryptocurrency you purchase from PayPal in your account.” “In addition, the cryptocurrency in your account cannot be transferred to or outside of other PayPal accounts.”

PlanB visited the sentiment in a subsequent tweet, referring to Bitcoin’s price movement in response to evolution, as well as access to the potential common cryptocurrency PayPal.

PlanB is known in the cryptocurrency industry for its capital-to-power ratio model, which predicts that the price of bitcoin could rise above $ 100,000 per coin.

Source: CoinTelegraph

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