Stripe Just Made a $53 Billion Bid for PayPal. Here's What That Means for Bitcoin
If Bitcoin becomes more than just a store of value, its price could soar accordingly.
Overview
In mid-July, fintech firm Stripe made an unsolicited $53 billion bid for PayPal (NASDAQ: PYPL). That's good news for the crypto market overall, and potentially even better news for Bitcoin (CRYPTO: BTC).
For much of the year, Bitcoin has been in a dismal tailspin, down 25% year to date. But after the $53 billion Stripe bid, Bitcoin perked up. It's now up more than 5% since news of the deal broke. And some analysts now think Bitcoin could be on the way to reaching $80,000 by the end of August.
Details
The big theme of the Stripe-PayPal deal is that digital currencies are suddenly going mainstream. The future of payments will now almost certainly include a mix of traditional cryptocurrencies such as Bitcoin, as well as dollar-pegged stablecoins. That's because Stripe and PayPal, in addition to being fintech giants, are both heavily involved in the stablecoin business.
Source
Originally published at www.fool.com.