David Marcus, President of Facebook Financial, recently commented on major financial companies investing in Bitcoin (BTC) and said the crypto industry has opened a new era.
Facebook’s David Marcus said last week that PayPal’s decision to adopt Bitcoin and other cryptocurrencies inspired everyone. Former PayPal President and Facebook Chief Financial Officer David Marcus shared his thoughts on the latest steps major IT and payment companies are taking to jump on the Bitcoin train.
After MicroStrategy and Square invested heavily in Bitcoin for inflation protection, PayPal’s news followed, and it was exciting to see more mainstream financial services players get used to cryptocurrencies. After this week’s PayPal announcement, many banks are now following BTC and stablecoin support. Unlike the other two, the US payments giant allowed its users to buy, sell, and store Bitcoin along with ETH, BCH and LTC in the hopes of adding BTC as a payment tool next year.
Will it be reflected in the prices?
Users are made up of millions and now they all have a chance to enter Bitcoin. Marcus stated that even important world giant banks started to follow Bitcoin support after the PayPal move. As we previously reported, the latest JP Morgan’s latest report stated that in the future, Bitcoin could easily compete with gold. In short, these news show how much Bitcoin adoption has increased. This will be an important factor of increase in prices in the future.
The addition of cryptocurrencies by more companies to their portfolios will both increase adoption and positively affect prices. Many notable analysts agree on this.