First Mover: PayPal Rushes In and Bitcoin Breaches $12K, While USDC Gains on Tether

Bitcoin blew past $12,000 to its highest price in two months, bringing into view the prospect of a fresh 2020 high.

The largest cryptocurrency was changing hands Wednesday around $12,200, within striking distance of the year’s high around $12,500. And that was even before the news emerged that electronic consumer payments giant PayPal had been granted a conditional New York state license for a partnership to buy and sell cryptocurrencies. 

“Coupled with a seemingly constant flow of…

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