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02 Mar 2021

PayPal CEO on why the company is getting into cryptocurrency

PayPal CEO on why the company is getting into cryptocurrencyPayPal is emerging as a big player and big buy on the Bitcoin market. The payment company is offering clients the ability to buy and sell cryptocurrencies, with PayPal’s product launching a couple of weeks ago. The company is essentially buying Bitcoin and then selling it to its customers. PayPal CEO Dan Schulman joins “Squawk Box” to discuss. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi Fintech companies are helping fuel demand for bitcoin as they open the floodgates for millions of people to trade it. By one firm’s analysis, PayPal and Square clients have been buying the majority of the new bitcoin supply entering the market each day. Hedge Fund Pantera Capital estimates that Square clients have accounted for 40% of bitcoin that ente

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