Is Paypal hoarding 70% of newly mined Bitcoin?

[cryptovlek 2597]

Paypal should be transparent about the crypto purchaces and not just give estimates but give the addresses they hoard the Bitcoin. As we haven't seen addresses given to users so I don't think they divide the Bitcoin in individual blockchain addresses but instead hold them in custodial wallets and only provide a number in their app for their customers. Without giving us exact data Paypal may claim anything but we wouldn't know as we can't verify.

[zhoutong 2188]

Paypal volumes are surging on Bitcoin purchaces, it can be the reason for the latest Bitcoin rise as Paypal is buying from exchanges to support the increase in demand it sees from retail investors in their platform. While this is very important it also makes it possible that Paypal interest can be limited into this small hype as it doesn't respect the crypto buyers and offers limited access to what Bitcoin actually is.

[bogdanoff 3173]

With news and actions from paypal, microstrategy, investors from institutions and many companies buying, Bitcoin was recently reached 34000 dollars in price. We wouldn't dream having this price at the beginning of 2021, this means excellent prospect for the year and we expect the interest and investors to keep coming for all the year.

[ibrahim halil anaç 138]

I do not find it right for the Paypal company to stack bitcoin and other altcoins in this way. Companies holding a large part of a product in the market will be able to direct the market as they wish about the price of that product, which is a great risk for other investors in the market.

[annayks 2314]

Paypal didn't adopt Bitcoin but allowed in a way trading, however we have seen traders getting their accounts banned from this platform and we shouldn't forget they are a centralized website. One that most of us didn't want to use as it had the ability to block anyone from their system. Bitcoin includes everyone in the economy, paypal is just another failed experiment of the traditional systems.

[Shaza Ahmad 1682]

Paypal's entry into the cryptocurrency market caused a huge price hike, and this liquidity that was pumped into the market was mostly from new investors, Paypal is a giant company with a strong infrastructure and its approval to include Crypto within the assets means that the big thing has not happened yet.

[Bruno52 1141]

I don't think that PayPal is hoarding 70% of bitcoin because there are many PayPal users who don't use bitcoin because they don't fully trust it so I don't think that PayPal has that much influence of bitcoin.

[tienda 8776]

PayPal is one of the big companies and is possible will influence any market, but I'm not sure the cryptocurrency market is depdned on about PayPal. Cryptocurrency now is big as a sea, and PayPal is like a fish in the sea. So PayPal introduced itself to the cryptocurrency, because cryptocurrency gained many people and converted to the competitor for PayPal and all services like PayPal.

[Choudhary umer 0]

My friend I want to tell you that the PayPal is starting the exchange in the Bitcoins in the some countries and I hope so that there are many other exchanges are interested in the Bitcoins that is very beneficial for the members of this forum

[abohasnn9 2401]

My friend, indeed, Paypal has adopted special wallets to store the Bitcoin inside it to deposit with it and to withdraw from it with strong comfort, but Paypal has a very big idea that may store most of the Bitcoin codes inside it the metal and so on, it has a Bitcoin project and this matter makes me anxious Thank you very much

[Ameralsamt 2558]

It is clear, dear, that PayPal is actually stocking and buying large quantities of Bitcoin, being the world's #1 digital network, so it will buy Bitcoin from all its users, which will increase the popularity of Bitcoin and other cryptocurrencies. 

[Whited35 15285]

On 11/24/2020 at 12:25 PM, Jromz said:

According to this new report, Paypal is buying huge sums of Bitcoin to supply such a big market, which has naturally caused scarcity of Bitcoin, an a parabolic increase in the price. Pantera then estimates that Paypal is buying up to 70 % of newly mined Bitcoin that miners put into circulation.

It does make the sense even now as the Bitcoin has been experiencing some spikes after PapPal announced to support cryptocurrencies including Bitcoin to buy and hold on the platform. Probably yes, PayPal was the secret factor to accommodate a huge amounts of Bitcoin that inspired other new whales to evolve. Stalking institutions would have already analyzed the upcoming situations before acquiring the huge sum of Bitcoin. 

[M arbaz 294]

Hi my dear. I think paypal is exploiting the lack of legislation regarding crypto because people have to depend upon paypal to get bitcoins especially it's own users. Because we can now safely withdraw btc to our paypal account and then send to our visa or Mastercard or bank direct.

[Jack764 1841]

Since PayPal before dealing in Bitcoin, this will be excellent, and this achievement is the best achievement for attracting many people to the field

[Quickbee 26]

Paypal has recently adopted and accepted Cryptocurrency. But whether it is hoarding any of the 70 newly mined Bitcoin  is debatable. But anyway the very fact that PayPal is accepting Cryptocurrency is good for all Crypto investors.

[Guru2050 8284]

It's confirmed that paypal account has finally adopted crypto. With PayPal account one can buy, hodl and re-sell Crypto coins such as BTC ETH LTC and BCHABC. Paypal entering in to bitcoin and crypto market is a significant development to the upsurge in BTC price. More interesting payment services shall join

[David84 1191]

I think it is a very clever move by Paypal, this way it gets benefits from all sides. One point it is getting more customers because there are plenty of people who are working in cryptocurrency and the number is increasing everyday, and it is attracting them and making them loyal customers. Second when Bitcoin and other currencies have high demand and become accepted to buy different goods and services, the price will get better, and Paypal will benefit more , as if it were investing.

[maarcoferrer 1096]

This is not true, it may be that if you have something but basically it is public to know how many bitcoins are left and how many bitcoins have also been lost, there may also be many bitcoins that the truth is not known where they are, but the main thing is to know how to take advantage, when we learn this with respect to trading we will be able to have many benefits, let's act and start studying.

[Obliv0n 333]

This trend was repeated several times at the end and the beginning of the year, both PayPal and Greyscale bought bitcoin in an exorbitant way, which caused the demand to be greater than the supply and later the price of bitcoin increased, reaching new ATH several times, the power of institutions is overwhelming.

[koala26 158]

I think Paypal is a very well known platform, what I don't think is that it can monopolize this large amount of cryptos, because if so they could make very large manipulations to make the price of cryptos go up or down.