PayPal President: We're Believers in Bitcoin

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Last Updated: October 7, 2020 11:40 am

1 min read

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PayPal president David Marcus took to twitter Monday morning to make some things clear on his company’s stance on digital currency bitcoin.

His message comes as seemingly the entire bitcoin community has convinced themselves the money transmitter is anti-bitcoin, with policies that do not permit PayPal users to sell the likes of bitcoin, litecoin, and other cryptocurrencies. Word has also been spreading in the community that PayPal may also be cracking down on individuals selling bitcoin mining hardware:

“To clarify: we have no policies against using PayPal to sell Bitcoin mining rigs. We don’t support any currency txn whether fiat or BTC for a host of regulatory issues,” said Marcus. “But we treat BTC and any FX [transactions] the same way. We’re believers in BTC though.”

This weekend, however, a Reddit.com user posted an image of an alleged email from PayPal which explicitly states that the sale of bitcoin miners is not permissible. Marcus, you’ve got some explaining to do.

Update: Title corrected to read “President” instead of “CEO”.

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