Reuters
- Bitcoin spiked as much as 8% higher on Wednesday after PayPal revealed it will soon allow users to buy, sell, and hold the popular cryptocurrency.
- The leap pushed bitcoin to an intraday peak of $12,817.17, its highest level since July 2019.
- PayPal’s Wednesday announcement marks the latest move by a financial-services giant to accept cryptocurrencies.
- Billionaire investor and bitcoin bull Michael Novogratz deemed PayPal’s move “the biggest news of the year in crypto.”
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