Paypal, Bitcoin and a new rise

The price of the digital currency Bitcoin rose to its highest level in 2020, Wednesday, driven by the increase in interest in this currency, according to the newspaper "The Independent".

The newspaper pointed out that the price of bitcoin has risen by more than $ 1,000 since last week, as it is currently trading at more than $ 12,300.

Although it is still far from the record it set in 2017, after Bitcoin reached $ 20 thousand, the new rise today came after 7 months of trading the digital currency for less than $ 5,000.

PayPal joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold Bitcoin and other virtual currencies.

The company said in a statement: "PayPal customers will also be able to use cryptocurrencies to shop on our network starting from early 2021," according to what was reported by "Reuters" news agency.

"PayPal hopes to encourage global use of virtual currencies and prepare its network for new digital currencies that may be adopted by central banks and companies," said President and CEO Dan Schulman in an interview.

“We are working with central banks and thinking about all forms of digital currencies and how PayPal could play a role in that,” he said.

The company said that account holders in the United States will be able to buy, sell and hold cryptocurrencies on PayPal over the coming weeks. It also plans to expand to some countries in the first half of 2021.