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Health, Wealth, and Happiness

August 11, 2023

“Wall Street sells stocks and bonds, but what it really peddles is hope.”

-Jason Zweig

Howdy investors!

Transactional payments giant PayPal is jumping into crypto in a huge way. They announced this past Monday that they will begin issuing their own stablecoin called PYUSD.

So far, the company says that the Ethereum-based stablecoin can only be bought and redeemed through PayPal, with no plans to make it available through third-party exchanges. However, that could change, and with PayPal boasting 435 million active accounts, PYUSD could quickly become a top ten cryptocurrency.

Today we take a deep dive into PYUSD and PayPal stock to give investors the information needed to make a solid choice about investing in the new stablecoin and the company backing it. Read on!

The New PayPal Stablecoin: Should You Invest?

by Sir John Hargrave

If you believe in PayPal, this could be a great time to buy PYPL stock.

This past Monday, August 7, PayPal announced it is getting further into the crypto economy with the launch of the PYUSD stablecoin.

This is a significant development.

PayPal has an active user base of 435 million users. If it does a good job onboarding them into PYUSD, it could make its stablecoin the largest, surpassing both USDC and USDT. That would mean a market cap of over $83 billion for what's essentially a centralized stablecoin used specifically within PayPal's ecosystem.

You can't invest in PYUSD since it's a stablecoin designed to hold a peg to the U.S. dollar. But you can invest in $PYPL stock, and that might be a good idea.

Of course, investing in $PYPL on the premise that its new stablecoin will significantly impact PayPal revenues and earnings is a double-edged sword. With the potential for great rewards also comes some pretty significant risks. Here's what you should know before investing.

Click to continue reading The New PayPal Stablecoin: Should you Invest? >>

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Blockchain Book Club: Bitcoin Billionaires by Ben Mezrich

Join us for the next meeting of our Blockchain Book Club on Wednesday, August 16, 2023, at 6:30 PM ET!

We will be discussing Ben Mezrich's fun and readable book, Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption.

Many of you know Mezrich's previous book, The Accidental Billionaires, about the founding of Facebook (which later became the movie The Social Network). That book centered around the court battle between Mark Zuckerberg vs. Tyler and Cameron Winklevoss, who argued that Zuck stole their idea for Facebook.

In this book, the Winklevoss Twins are the good guys, taking their newfound Facebook fortune and reinvesting it into bitcoin. Mezrich, a master storyteller, makes difficult technical concepts easy to understand. (The chapter around the twins' extreme measures of secrecy to keep their bitcoin safe is especially memorable).

You can buy the book on Amazon, the audiobook on Audible, or check out the book from your local library. (Your library has Kindle and audiobook versions, too!)

Premium members: Click here to RSVP for the event. We look forward to seeing you there!

(Not a Premium member? Sign up today to access our complete library of webinars, crypto scorecards, and other member-exclusive content.)

Must Read

Today's most important stories for crypto investors.

Why Sam Altman Wants to Scan Two Billion Eyes (El Pais)

Investor takeaway: Sam Altman's Worldcoin has created a huge buzz in the crypto community, including a great deal of criticism since its launch. Some critics claim Worldcoin is "digital colonialism," citing the misuse of biometric data and potential exploitation. Even now, governments are banning the service and opening lawsuits over these privacy and security concerns. This is a good read to get you up to speed.

The Ultimate Crypto Survival Guide: How to Step up Your Wallet Security (X)

Investor takeaway: This X (formerly Twitter) thread explains how users should approach crypto security while offering ways to enhance wallet security measures. It goes into how users can unwittingly compromise their crypto wallets, such as interacting with scammers on Telegram. We're on board with anyone helping investors protect their assets.

$297M Investment Surge: What’s Ahead for Web3 Gaming & Metaverse? (DappRadar)

Investor takeaway:The crypto gaming industry, which spans video games that use blockchain-based tokens or NFTs, collectively received a substantial $297 million in investment funding last month, according to a joint report from DappRadar and the Blockchain Game Alliance.

It's worth noting that month-to-month data in this sector can be hard to analyze, especially due to delayed announcements or long development and financing cycles. Still, many believe that gaming is an excellent use of crypto, which should lead to more investments in the space in the future.

ICYMI