PayPal to refrain from holding reserves in Bitcoin

PayPal is not considering purchasing cryptocurrencies, such as Bitcoin. This was stated by PayPal’s chief financial officer John Rainey in an interview with CNBC, Reuters reports.

\n

“We are not going to invest corporate funds in such financial assets, but we want to seize the opportunity for growth,” the senior executive explained.

\n

Earlier, Elon Musk’s Tesla invested $1.5 bn in Bitcoin and announced plans to integrate the cryptocurrency as a payment method for its products.

\n

General Motors is also considering a similar possibility in Uber.

\n

However, there is no talk of holding a portion of reserves in Bitcoin. Such a question is being studied at Twitter.

\n

Earlier, RBC Capital Markets analysts urged Apple to buy Bitcoin and launch a cryptocurrency exchange.

\n

In February, in MicroStrategy’s "Bitcoin for Corporations" program, representatives from 6,917 different companies participated.

\n

Follow ForkLog’s news on Twitter!