PayPal Rolls Out Crypto To All US Users

Plus 98% of UTXOs are in the black

Happy Thursday, Blockfolians

The Lede

Well, that was fast. At the end of August, PayPal confirmed its entrance into crypto. On a November 2nd earnings call, the company said that it had rolled out crypto to about 10% of US users.

Now, less than 2 weeks later, crypto is available to all US users. Additionally, the transaction limits have been increased from $10,000 to $20,000.

Unfortunately, those who were worried that the service would be extremely limited in what you could actually do with your crypto were correct. No withdrawing and no sharing with friends.

Still, it’s hard not to see the move as a potentially massive deal when it comes to expanding access to crypto - not to mention normalizing it with PayPal’s massive US install base.

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Community Commentary

Interesting discussion on just how big a deal with PayPal news is.
More chatter on Dalio’s ban argument

A Really Big Number We Should Be Paying Attention To

98%

That’s the percentage of Bitcoin UTXO’s that are worth more than when they were made - the highest percentage since December 2017.


Final Thought