Wall Street Journal conducted an interview with John Rainey, PayPal’s chief financial officer, where he positively talked about BTC as a possible future option for payments in general. Rainey made sure to mention that PayPal was one of the first companies to accept BTC on their Braintree platform back in 2015, however, Rainey added that with such volatility, it was unsustainable for them:

“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction.””

After being asked, whether cryptos are ever going to be a popular payment methods, Rainey told WSJ that there is a very high likelihood of that happening:

„The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”

As we might have mentioned previously, BTC has many competitors at the moment that would be more suitable for daily or micro payments. Digital assets like IOTA, LTC or NANO might be better suited for now, however, with the implementation of Lightning Network around the corner, we might see the start of a new chapter in terms of the usage of BTC.