PayPal's chief financial officer, John Rainey, spoke positively about the use of Bitcoin as a popular option for payments during an interview with The Wall Street Journal (WSJ) published on Monday, February 19th.
In a section of the interview titled "The Crypto Factor", Rainey stated that PayPal was one of the first companies to accept Bitcoin on their Braintree however, Rainey adds:
"Given the volatility of bitcoin at the moment, this is not a reliable currency for transactions because if you are a merchant and you have a 10% profit margin, and you accept bitcoin, and the next day bitcoin falls 15%, you are now under water on this transaction. "
In response to the question whether crypto-currencies will ever be popular as a payment, Rainey told WSJ that there is "a very likely" of what is happening:
"Technology, there is a real merit to that." I think, however, that years will come before we see the kind of omnipresence and acceptance that make it a f money elm used every day. "
PayPal co-founder Max Levchin said in December of last year that even though he thinks Blockchain technology is revolutionary, it has not yet "Understanding" his views on the future of Bitcoin.
Coinbase, a cryptocurrency wallet and trading platform. Former PayPal executive, David Marcus , at its board of directors last December.