eBay CEO John Donahoe Considering Bitcoin Integration for PayPal

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eBay CEO John Donahoe Considering Bitcoin Integration for PayPal

Some companies are often open to new technology and these are the ones that move upwards as time changes and of such companies, eBay is one. The companies according to various reports have been mulling a plan to integrate Bitcoin for PayPal has finally decided to do it now.

In a statement eBay CEO John Donahoe who was attending an annual shareholder meeting, said that he was considering Bitcoin integration for PayPal. The news regarding this has been making rounds; however, it was not confirm whether it was going to happen till it was accepted and admitted by the CEO of the company.

Now that John Donahoe says that he thinks Bitcoin will play a very important role in the future, it is important for his organization to give it a consideration. Though he says that exactly how that plays out, and how his organization can best take advantage of it and enable it with PayPal is not clear, he still supports it.

The eBay CEO says that his organization is actively considering Bitcoin as according to him it is on his radar screen. This statement according to media observers is quite significant in the sense that it is a paradigmatic shift in eBay/PayPal’s attitude towards Bitcoin as the two organizations rarely gave positive feedback about the digital currency.

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Bitcoin Supporters Have Been Voicing for Bitcoin Integration by eBay

Various forums and support groups have long been advocating for acceptance of Bitcoin by eBay and payment processing by PayPal, there were no positive nodes from the two companies. However, now with the latest decision from eBay’s CEO it looks it will push other online payment companies to seriously consider integration.

PayPal and eBay, both are large companies in payment method and online retail respectively and decisions like this are going to transform the way online commerce and payment is done around the world. The decision by the eBay’s CEO is strange as earlier the same company had said that Bitcoin is competitive threat to PayPal in regulatory filings.

Though later on in late 2013, PayPal CEO David Marcus had said that he was intrigued by Bitcoin and in fact owned some of his own, he did not think PayPal was ready to allow its customers to link their accounts with Bitcoin wallets. The decision according to some critics may transform the way Bitcoin is being conceived by traders and investors.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com