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eBay’s Paypal warms to Bitcoin, apparently

Hen house winks at the fox
Fri Aug 15 2014, 14:08

ONLINE AUCTION HOUSE eBay is considering adopting upstart currency Bitcoin, according to the Wall Street Journal.

Ebay owns and uses Paypal of course, which is something of a Bitcoin alternative. Paypal is tied to eBay's Braintree business and it is Braintree that provides payment services for things like Uber that is likely to accept Bitcoin, according to the report.

The Wall Street Journal claimed that Paypal executives have already met with Bitcoin players and said that discussions are underway. The newspaper mentioned Coinbase, which already has relations with Google.

We have asked eBay to comment on this, but so far it has not. The Wall Street Journal said that no agreements have been struck yet.

Where deals have been struck, at Google, Microsoft and Dell for example, the nascent and turbulent Bitcoin currency has had a warm welcome. Both Google and Microsoft offer price comparisons in Bitcoin, while Dell will accept Bitcoin for hardware.

Recently Michael Dell tweeted that his firm has sold something for 85 Bitcoins, which works out at around $50,000.

Bitcoin has also been tarred with the illegal activity brush, and many thousands of Bitcoin were seized during the shutdown of Silk Road.

In the UK things look good for Bitcoin, and earlier this week Chancellor George Osborne said that he will give it some consideration.

"The government will look at the potential virtual and digital currencies have for achieving positive change and for encouraging innovation in our world leading financial sector, as well as the potential risks," he said.

"It is only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we'll ensure Britain's financial sector continues to meet the diverse needs of businesses and consumers here and around the globe." µ


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