PayPal and Visa reported their profits, Bitcoin can surge by May 2020, and the number of Americans who own cryptocurrencies has almost doubled
Financial expert: don’t hesitate to buy bitcoins at any price lower than $8000
Joel Birch, founder of hedge-fund Lunar, is confident that buying bitcoins at any price below $8000 will be successful. However, the finance expert does not exclude that bitcoin may drop lower than the current values in the coming months.
“I can’t tell you if bitcoin is going to hit $3,000 or $4,000 or $6,000, but I can tell you, to me it doesn’t matter because I believe that any price below $8,000 is good,” Birch said.
According to him, as May halving (the next reducing of the reward for a bitcoin block by 50%) approaches, the price of the main cryptocurrency will start growing. Its final result will be the level of $20,000.
The volume of PayPal transactions has grown by 25%
According to Q3 results, PayPal’s total payment volume increased by 25%, the number of active accounts increased by 16% to 295 million.
The financial report showed revenue grew 19% to $4.38 billion. Its GAAP net income increased 7%, to $462 million. The figures could have been even better, hadn’t the PayPal management made several unsuccessful investments: into Uber shares (for $500 million) and MercadoLibre (for $750 million).
The number of Americans who own cryptocurrencies has increased by 81%
According to a survey сonducted by Finer, a company offering financial services, the number of Americans who won cryptocurrencies has grown from 7.95% in 2018 to 14.4% in 2019. That means that roughly 36,5 million Americans own virtual coins.
The average total of assets in crypto is $5,447. However, roughly 75% of respondents said that they have no more than $360 in crypto assets.
Almost 55.4% have invested exclusively in bitcoin. It also became known that men own cryptocurrency at nearly twice the rate of women.
Bakkt to launch options on its exchange on December, 9
Bakkt, the exchange of digital derivatives, announced that it would launch options contract for bitcoin futures on December, 9. This will allow making deals for purchasing bitcoin at an agreed price for a specific date of the option’s expiration.
Unlike usual futures, bitcoin options gives a right, but not an obligation to purchase cryptocurrency at the previously agreed upon price. The Bakkt exchange will use European-style options, which, unlike American ones, limit the opportunity for early execution.
Visa’s net revenue increased by 17%
Visa Inc. publicly reported the results of 2018/2019f financial year. According the data, its GAAP net income increased by 17% to $12 billion. The revenue increased by 11% to $22,9 billion.
Alfred F. Kelly Jr., the CEO of Visa, explained these successful figures by establishing new partnerships with large foreign companies combined with four investment deals. This allowed for expanding ecosystem of Visa on the international market.