David Marcus CEO of PayPal may have just hinted that PayPal is a supporter of bitcoin (BTC). As first reported on reddit you can see David Marcus tweets in the image below that “We’re believers in BTC”.
We already know that David Marcus owns bitcoins “I really like Bitcoin. I own bitcoins,” but does his tweet mean PayPal does too? There seems to be varying opinions on this with some saying yes this means PayPal supports bitcoin with others saying it’s PayPal covering their ass for the recent closure of accounts which sold bitcoins and related mining machines.
As seen in the image below and in this image there have been more than a few cases of PayPal accounts being closed for selling mining machines and selling/buying of digital currency.
When it comes to PayPal it seems you either love them or hate them. PayPal is currently the most widely accepted service that allows people to purchase goods and services online. But their outrageous fees and rule with an iron fist attitude may be their demise. Bitcoin is hot on PayPals heels providing a secure decentralized, low cost option to make purchases online and offline.
It seems to me that PayPal is well aware of this and it starting to realize they will need to adapt by integrating bitcoin into their business model. Whether or not this will happen remains to be seen.