NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

21 Million BTC: How PayPal Active Users Underscores Bitcoin Digital Scarcity

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
bitcoin paypal

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

An over 300 million active register accounts on PayPal highlights just how important digital scarcity is to Bitcoin’s value.

The enormous installed userbase suddenly having access to cryptocurrencies could be a major boost to adoption. We’ve done the math to see how the numbers add up and the type of impact that is possible.

PayPal Rumored To Be Exposing 305 Active Users To Cryptocurrencies

Yesterday, rumors began circulating about a potential move by PayPal and Venmo to support Bitcoin and other cryptocurrencies.

Discussion over the potential impact of the payments processing giant may have on cryptocurrency adoption has spread like wildfire.

According to data, there are over 305 million registered and active user accounts on PayPal today. This number is only bound to grow and has steadily since the company was first founded in 1998.

paypal venmo crypto bitcoin user accounts

PayPal became synonymous with the online auction website eBay in the late ’90s and early ’00s. Later, the two businesses separated.

Related Reading | Rumored PayPal and Venmo Crypto Support To Provide Big Boost To Adoption 

PayPal also recently acquired popular payments app Venmo, further growing its install base of users. The company’s CEO recently told the media that it plans to aggressively grow user accounts of the app to 52 million this year.

The significance of exposing a substantial userbase to Bitcoin and other cryptocurrencies cannot be understated.

But for those that don’t quite understand the impact, comparing these figures to Bitcoin’s maximum supply can be eye-opening.

Simple Mathematics Highlights The Potential Impact on Bitcoin Supply and Demand

Bitcoin was designed to be digitally scarce, making the asset a hedge against inflation. Although a mechanism exists that unlocks new BTC to incentivize miners to keep the network churning, the max number of Bitcoin will never increase.

Only 21 million BTC will ever exist. There aren’t enough for the number of millionaires in the world to one 1 BTC each. And if the entire global population of 7.8 billion people all wanted Bitcoin, there’s only enough of the cryptocurrency for 0.0026 BTC to be equally distributed.

21 million BTC distributed equally across just PayPal’s 305 million users alone, would only amount to 0.068 BTC per user.

Even Venmo’s goal of 52 million users by the end of 2020, spread out evenly wouldn’t even make for half a Bitcoin per user.

Related Reading | Bitcoin Stock-To-Flow Model Updated To Account for Satoshi’s 1 Million BTC 

But as we’ve learned from the dollar, wealth is rarely distributed evenly. Wealthy individuals are bound to buy up the lion’s share of the asset, making it even more scarce through demand.

With even more BTC lost forever due to forgotten private keys or deceased users, the supply may even smaller than thought.

As much as 1 million BTC is said to be held by wallets related to the asset’s creator. Satoshi Nakamoto is suspected to be deceased, and those 1 million BTC may never be accessed again.

The entire max supply of Bitcoin also won’t be fully mined until the year 2140, making the current circulating supply that much more limited.

While the PayPal news may indeed be significant for hastening adoption, Bitcoin’s digital scarcity itself is where the asset’s true value is found.

Tweet123Share233ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

BTC

仮想通貨 おすすめ:BTCエアドロップで注目のBTC Bull Tokenに大きな期待 — 今買うべき新しい仮想通貨とは?

BTC Bull Token(BTCBULL)は、ビットコインの価格上昇を見越して設計されたミームコインであり、仮想通貨 おすすめとして注目されています。プレセールではすでに590万ドル以上を調達して...

Yohei Hanazato 3 hours ago
Solaxy Solana Layer2

Solaxyプレセールが3,700万ドル突破 – 今注目すべきミームコイン系仮想通貨プレセールとは?

ミームコインが仮想通貨市場を席巻しており、毎日のように新たなトークンが登場しています。多くの投資家が人生を変えるような爆発的なリターンを求めて参入しており、その流れは止まりません。 誰もが次の1000...

Yohei Hanazato 3 hours ago
Bitcoin

On-Chain Data Tips Bitcoin To Peak At $120,000 – But On This Condition

Bitcoin prices have registered impressive gains in recent weeks amidst an ongoing price rebound. Since dipping below the $75,000 mark...

Semilore Faleti 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Could Be Preparing For Fresh Wave Of Volatility — Here’s Why

Opeyemi Sule 44 minutes ago

Dogecoin Price Tests Panic Zone At $0.21, Breakdown Could Lead To Price Crash

Scott Matherson 2 hours ago
Solaxy Tokenomics

【ico 仮想通貨】LAUNCHCOINの購入はもう遅い?Launch Coin On Believeが1週間で2,628%上昇、次に爆発する仮想通貨はこれか

Yohei Hanazato 3 hours ago

Premium Sponsors

Top Brands

Press Releases

  • XRP hackers frequently attack, SIX MINING will become your...

    6 hours ago
  • How to Easily Earn $8,800 a Day Using XRP and DOGE in SAVVY...

    8 hours ago
  • AI Powered Mining: The Crypto Mining Technique That’s...

    8 hours ago
  • Ripple (XRP) holder benefits: Earn $93,600 a day through...

    12 hours ago
  • REVEALED: The Bitcoin Mining Secret Robinhood Users Use to...

    23 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.