PayPal the Latest Big Name Buying into the Future of Cryptocurrencies

The list is growing.

Several major companies have already begun making sizable investments in Bitcoin and the shortlist includes Tesla (TSLA), Mastercard (MA), MicroStrategy (MSTR), Square (SQ), among others.

These big investments come after many companies have begun hyping up the legitimacy of the popular crypto in the future. Square CEO Jack Dorsey recently said Bitcoin will become a “single currency” in the future, while JPMorgan (JPM) analysts saying they think people will soon begin treating bitcoin, like gold, and eventually value it the same way.

And now, months after PayPal (PYPL) made headlines and sent the Bitcoin crowd into a frenzy when the company announced it will allow customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets, the fintech giant is finally doubling down.

On Monday PayPal announced it will soon be purchasing the digital asset security startup Curv for $200 million–$300 million, marking the companies first major cryptocurrency acquisition.

Founded in 2018, Curv provides digital asset security technology as a cloud service, offering people an alternative to storing and potentially losing their private keys. Some of Curv’s big clients include eToro, FalconX, and Bitbond.

PayPal said the acquisition of Curv should be official sometime in the second quarter of 2021.

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