Is PayPal’s crypto move a game-changer for bitcoin? Probably not, say experts

PayPal’s decision on cryptocurrency could help the company attract new users in an increasingly competitive digital payments landscape where innovation is king, the experts said. — Reuters

LONDON: PayPal Holdings Inc’s decision to open its network to bitcoin and its rivals was hailed by virtual coin enthusiasts as a watershed moment for cryptocurrencies and their path towards becoming a widespread means of payment.

But the move might do little to drag existing cryptocurrencies out of their niche in payments, according to many fintech specialists, as holders of such coins often view them as an investment asset akin to gold rather than as a means of spending.