Dan Schulman, CEO of payment processor PayPal, revealed during an interview that he does indeed own Bitcoin.
On Nov. 20, Fortune reported that PayPal CEO Dan Schulman stopped by its offices where he discussed a variety of topics, including the reason for PayPal's withdrawal from the Libra Association and whether he is the proud owner of any cryptocurrencies.
PayPal was the first to leave LibraSchulman explained that PayPal withdrew from Libra because the company decided to put its attention elsewhere.
"You know, we think if we focus on our own roadmap, we'd be able to advance financial inclusion faster than if we put all these resources against Libra."
Schulman added that Libra will start going down a road that his company remains "Very interested in looking at," and once Libra starts to figure things out, "We'll take another look at where they are."
At the beginning of October, a PayPal spokesperson told Cointelegraph that the company had officially left the association, adding that they remain supportive of Libra's aspirations and continue to look forward to dialogue on ways to work together in the future.
A lot of promise to blockchain technologyPayPal's CFO John Rainey said in May that the firm has teams that are working on blockchain and cryptocurrency, and that they wish to participate in that technology in whatever form it takes in the future.
"We think there's a lot of promise to blockchain technology. It's intriguing to us, but it really needs to do something that the traditional rails can't do. Most people think that blockchain is about efficiency, but the system today is pretty efficient."
Regarding cryptocurrencies, the CEO said that it is still very volatile, and that they do not have much demand for it by merchants because merchants operate on very small margins.
"Until it becomes less volatile, it won't be a currency that is widely accepted by merchants on the web - not the dark web, but the web."
PayPal CEO Hodls Bitcoin and Only Bitcoin
Udgivet den Nov 21, 2019
by Cointele | Udgivet den Coinage
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