Matt Miller asked directly whether PayPal had plans to respond to digital payments, like Bitcoin. Wouldn’t PayPal get something from being the “first mover” in this instance?
Mr. Donahoe replied by stating that PayPal is working on a digital currency solution. He said that PayPal was working to create a digital wallet that could accept “many different currencies.”
What does this mean specifically?
It means exactly what many of us have been speculating: PayPal is going to try and find a way to profit from Bitcoin. If they integrate Bitcoin or other cryptocurrencies into their already existent PayPal.com user interface, it could be a very big deal for cryptocurrency–especially as far as creating legitimacy goes.
Awesome news. I’m strongly bullish on this.