Paypal to allow Bitcoin and crypto spending

Payments giant Paypal says its customers can now buy, sell, and hold bitcoin and other virtual coins with the company's online wallets.

Cryptocurrency payments on Paypal will be settled using fiat currencies, such as the U.S. dollar, meaning merchants will not receive payments in virtual coins.

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In the news

Bitcoin breaks $13K, extending streak of consecutive days above $10K

The price of BTC looked to find support just under the $13,000 dollar mark this week, and has managed to stay above the $10K mark for a record-breaking 90 days.

The market reacted positively to the news that Paypal would be bringing its millions of users into the crypto space, and just about every coin in existence saw significant gains with the announcement.

Satoshi Nakamoto’s uphill climb to surpass Jeff Bezos’ net worth

With the price of Bitcoin currently hovering around $13K, Satoshi’s BTC stash is worth a cool $12 Billion, making them the 157th richest person in the world.

A far cry from Jeff Bezos’s $175 Billion, and would require a 13X Bitcoin's price increases for Satoshi to be the world’s richest person.

IMF managing director warns of a 'great financial reset'

Kristalina Georgieva, the managing director of the IMF’s Washington DC branch, warned of a major financial reset and called for a ‘new Bretton Woods Moment’ earlier this week.

The announcement caused a veritable outcry online, with economic
dooms-dayers and bitcoiners alike.

Over $2 Billion in Bitcoin leave the top exchange since June

Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows with a new report showing that as of June 2020, 187,000 Bitcoins worth $2 Billion dollars have been taken off major exchanges.

With prime examples in the past of exchanges being hacked for billions such as Mt. Gox, Bitfinex, and Coincheck, it seems that users are looking for non-custodial options to guard their coins.