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For Paypal, this is just inflation protection for their customers. Inflation is going to be much higher going forward so this feature is more important now. It
by cryptica 6y ago
For Paypal, this is just inflation protection for their customers. Inflation is going to be much higher going forward so this feature is more important now.
It's for people who leave a bunch of money sitting idle in their Paypal accounts for several months and don't want it to lose buying power.
Paypal can achieve this by holding onto Bitcoin reserves to back their customers' funds. What this means is that Bitcoin is going to become the new gold standard. This will allow Paypal to take the place of traditional banks and help society to transition away from fractional reserve banking backed by fiat currency.
It is very clever and brave of Paypal to do this.