Monday, May 6, 2013

EBAY: PayPal is looking at ways to use Bitcoin, eBay...

9:31 AM PayPal is looking at ways to use Bitcoin, eBay (EBAY) CEO John Donahoe tells the WSJ. "It’s a new disruptive technology ... There may be ways to enable it inside PayPal." The comments appear responsible for a 32% jump in the volatile virtual currency's price to $122.90. Given the total value of outstanding Bitcoins is still only around $1.3B, and PayPal's total payment volume for Q1 was $41B, Bitcoin is unlikely to move the needle much near-term. But PayPal's support for the currency would give it some legitimacy, and give PayPal some good PR as it tries to fend off hungry upstarts. Read comments

EBAY price at time of publication: $54.18. Check EBAY price now »

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