PayPal CEO Dan Schulman\u00a0believes that with more and more people flocking to digital payment methods, cryptocurrencies will gain more adoption soon.\r\n\r\nIn an interview with\u00a0CNBC\u00a0on Monday (November 23), Dan Schulman said the\u00a0COVID-19\u00a0pandemic has accelerated the transition to digital payment formats. The PayPal CEO stated that during the duration of the pandemic \u201cuse of cash has declined precipitously.\u201d He added to his statement that, \u201c40 to 70% of consumers no longer want to handle cash.\u201d\r\n\r\nPayment giant\u00a0PayPal\u00a0announced at the end of October that it offers cryptocurrencies such as\u00a0Bitcoin,\u00a0Ethereum, and Litecoin. The news reflected positively on both the Bitcoin market and the total cryptocurrency market. According to many analysts, this news played a crucial role in Bitcoin\u2019s recent rise. Bitcoin price suddenly rose on the day of PayPal\u2019s announcement. In a short time, the price skyrocketed to $ 18,000. At the time of writing, the leading cryptocurrency is trading at $ 18,862.\r\n\r\nPayPal CEO believes cryptocurrencies will gain more adoption soon. He supported his statements with the fact that more and more businesses and consumers will be flocking to digital payment methods.\u00a0Schulman\u00a0also stated in an interview that with the increased use in day-to-day trading, Bitcoin will begin to move from asset class to currency. The wider acceptance of Bitcoin will make the leading crypto more stable and possibly\u00a0\u201cmore valuable\u201d\u00a0over time.\r\n\r\nCEO and President Daniel Schulman said:\r\n\u201cOne of the things that we allowed is not just making it easy to buy, sell and hold cryptocurrencies, but very importantly, early next year, we\u2019re going to allow cryptocurrencies to be a funding source for any transaction happening on all 28 million of our merchants. And that will significantly bolster the utility of cryptocurrencies.\u201d\r\n\r\nCentral Banks Will Also Play an Important Role\r\nIn addition to cryptocurrencies, Schulman believes central banks will also play an important role. In an interview with CNBC\u2019s Squawk Box co-anchor\u00a0Andrew Ross Sorkin, he said it is only a matter of time before central banks issue their own digital currencies (CBDCs).\r\n\u201cIt\u2019s a matter of not if but when and how we\u2019ll start to see more and more central banks issue forms of digital currencies. I think you\u2019ll have more and more utility happen with cryptocurrency.\u201d\r\n#coinsfera #cryptonews #buybitcoinistanbul #buybitcoindubai #buybitcoininkosovo\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nDisclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.