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24 November 2020

Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys - CoinDesk

Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys - CoinDesk


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PayPal’s recent leap into the crypto market is helping to drive the current bitcoin (BTC) rally, according to Pantera, a prominent cryptocurrency and blockchain investment firm.

“Previously the friction to buy bitcoin was pretty onerous,” the letter notes, contrasting that difficulty with how e-commerce giant PayPal has now made it easy for millions of users to become potential bitcoin, ether, bitcoin cash and litecoin buyers. !

Panterra claims that PayPal is already buying almost 70% of the new supply of bitcoins.

Together with Square’s Cash App routine bitcoin buying, more than 100% of all newly minted bitcoins is accounted for, Panterra alleges.

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