The partnership aims to invest billions of dollars in crypto in a method similar to Strategy, formerly MicroStrategy, which clocked an exponential growth in valuation after it began heavily investing in Bitcoin, the FT report said, 2citing people with knowledge of the matter.
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“Offering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,” said May Zabaneh, PayPal’s Vice President of Blockchain, Crypto, and Digital Currencies, in a press release.
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It marks a shift from the bearish sentiment that prevailed weeks before the Fed meeting when short and near-dated puts were pricier than calls, reflecting downside fears.
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