The head of PayPal is confident in the prospects for the growth of the price of bitcoin

Payments company PayPal CEO Dan Shulman in an interview with CNBC on Monday, November 23.optimistic about the prospects for bitcoin.

"I think there will be more and more cryptocurrency use cases that will make Bitcoin more widely used, more stable and probably more valuable over time.", - he said.

Shulman said the COVID-19 pandemic has accelerated the transition to digital forms of payments. PayPal wants to be at the forefront of the ongoing digitalization of finance:

“The use of cash has dropped dramatically amid the pandemic. 40 to 70% of consumers no longer want to deal with cash. "

“We're not just going to simplify buying, selling andstorage of cryptocurrencies. At the beginning of next year, we are going to allow cryptocurrencies to be the source of funding for any transaction with our 28 million sellers. This will significantly increase the usefulness of cryptocurrencies "Shulman added.

PayPal has consulted with regulators andcentral banks before launching their crypto service. Shulman said central banks' own digital currencies (CBDCs) are only a matter of time before issuing.

“The question is not if, but when and in whatform we will see them. More and more central banks will issue various forms of digital currencies. Along with this, cryptocurrencies will become more useful. Cryptocurrencies and CBDC May Play Important Roles in the Future ", - he said.

Last November, Shulman said that “until [cryptocurrency] becomes less volatile, it will not be a currency that is widely accepted by merchants on the internet—not the dark web, but the web.”

PayPal currently has a license fromNew York State Department of Financial Services to work with such cryptocurrencies as Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Earlier this month, Shulman said PayPal plans to add more digital currencies.

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