We thought that the people may have been a bit crazy because it was around four or five people who said that this was going to happen. Lo and behold, it's real on wednesday, the 21st of october payments, firm paypal has announced a major move into crypto. According to paypal's press release, they said the migration towards digital payments and digital representations of value continued to accelerate driven by 19 and the increased interest in digital currencies from central banks and customers paypal's new service, which was launched today. This is this is crazy. I wish you could feel my excitement. This is absolutely insane. Paypal'S new service will allow its customers to buy hold and sell cryptocurrency directly from their paypal account. Furthermore, paypal plans to significantly increase cryptocurrency's utility by making it available as a funding source for purchases in at least 26 million merchants. Worldwide. This means in essence, you will probably more than likely be able to use bitcoin to pay for everything on ebay. This is insane dan shulman, president and ceo of paypal said this. The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access, efficiency, speed and resilience of the payment system and the ability for governments to disperse funds. To citizens quickly, our goal reach digital payments, expertise, two sided network and rigorous security, and compliance controls provide us with the opportunity and the responsibility to help facilitate the understanding, redemption and interoperability of these new instruments of exchange.
Initially, the supported crypto assets will be bitcoin, ethereum be cash and litecoin users will be able to buy, sell and hold these cryptocurrencies directly within their paypal. Digital wallet and the only supported jurisdiction will be the united states. This will happen in the coming weeks. Paypal is planning to expand the features to vemmo and select international markets in the first half of 2021. I first of all thank you to the person in the comments section who wrote this i'm, not even joking. I saw someone write in the comment section: paypal um now allowed you to buy bitcoin and i sat there and i was like shut up you're lying. I was like that news did not come out. I was i was in the living room. The point is yes: it's all over the place, here's the actual press release, paypal launches new service, enabling users to hold, buy and sell cryptocurrency giant. You can hear my excitement, i i do apologize for the intensity of this video. The payments giant paypal says its customers. Can now buy and sell bitcoin first mover paypal rushes in in the bitcoin price of, as you might have imagined, bitcoin's price has, of course, jumped up in the last couple of hours. It is now at 12 432 us dollars. This is probably one of the craziest news stories that we have received in a very long time, and there are tens of millions of people who do not know about this news yet because it was just released.
I do hope, without a shadow of a doubt that this made your day. I do hope that you all are having a great day a great morning, a great afternoon a great evening wherever you are wherever you might be. I do hope that it is absolutely fantastic. Do you understand like this is like all the other payment platforms are now going to try and do the exact same thing that paypal is because they can't fall behind. This is what they must do now to be able to keep up with paypal. This also mimics the exact news that we had last year for those of you who weren't here or maybe brand new to the channel. We had news that over one trillion dollars was transacted last year, just on bitcoin's, blockchain and paypal did less than half of that. This is paypal's way of saying we cannot be left behind. We have to make sure that we're also in on this as well – and this also then leads me to that same exact conclusion that i always have you have to think. If paypal is getting into bitcoin, they probably logically, maybe hold a lot of bitcoin themselves. Thank you all once again for watching and or listening i'm gon na try and calm down, and i will most certainly be talking to you all soon. Litecoin is also up as well.