Executive financial Director PayPal John Rainey positive attitude towards the use of bitcoin (BTC) as a means of payment.
He said this during an interview for The Wall Street Journal (WSJ) published on Monday, February 19.
In the interview section titled “Cryptofiction” Rainey said PayPal was one of the first companies that started to accept bitcoin at its Braintree platform in 2015. However, Rainey adds:
Given the volatility of bitcoin at the moment, it’s not the most reliable currency for transactions, because if you, for example, the seller, and you have a 10% margin and you accept bitcoin, and the next day bitcoin falls 15%, then you this deal becomes unprofitable.
Responding to a question about whether cryptocurrency ever popular as a payment, Rainie replied that this probability is “very high”:
Technology, thanks to her it can happen. However, I believe that until the moment that cryptocurrency will be used as an everyday method of payment we will have to wait a few more years.
PayPal co-founder Max Levchin said in December last year that although he believes that blockchain technology is revolutionary, he has not yet decided on their opinion on the future of bitcoin.