The big news Tuesday was that PayPal would allow North American (for now) merchants to sell their digital goods for bitcoin through the PayPal Payments Hub, but there seems to be a little bit more to the news. Something that’s sure to make altcoin lovers excited.
Before I get to that, I should mention that PayPal is working with the three major bitcoin payment processors out there: BitPay, Coinbase, and GoCoin. While BitPay and Coinbase operate strictly with bitcoin only, GoCoin offers support for litecoin and dogecoin in addition to bitcoin.
What that means, according to GoCoin CEO Steve Beauregard, is that these North American PayPal merchants will also be able to accept dogecoin and litecoin if they so wish.
— Steve Beauregard (@GoCoinCEO) September 23, 2014
Yesterday’s news caused the price of bitcoin to surge upwards of nine percent. At the time of this writing, the price at the Bitstamp exchange is hovering at $435.
It’s a huge development in the story of cryptocurrencies, leading many to ask just how PayPal’s move will impact the future growth and development of digital currency like bitcoin, dogecoin, and litecoin.