Speaking to Fast Money Interview, Dolev added that PayPal’s decision to allow customers to buy, sell and hold bitcoin could become a “game changer” for not only the company but also its users. . The analyst also believed that bitcoin could “drive revenue growth” for PayPal and that more and more people would start using PayPal services.
The analyst believed that bitcoin could also boost PayPal’s competitive revenue, which bought 4,709 bitcoins worth $ 50 million in October.
Earlier this month, Dolev apparently raised its price target on PayPal stock from $ 270 to $ 290. It notes that PayPal’s overall sales could see 20% growth this year. At the time, the analyst found that 17% of PayPal users traded Bitcoin on the app.
The analyst predicts that there may be a “point of inflow” even this year. More than Then more people are starting to use such applications. He believed that the phenomenon could be triggered by bitcoin.
The launch of PayPal of its Bitcoin-related services was seen as a historic milestone. PayPal received its crypto license from the New York State Department of Financial Services. Apart from Bitcoin, the payments company has said it will support the purchase of Ethereum, Bitcoin Cash, and Litecoin.
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