Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

PayPal Users Are Now Buying 100% of New Bitcoin Supply, Says Pantera Capital CEO

by Daily Hodl Staff
December 23, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

The crypto investment firm and hedge fund Pantera Capital says new numbers indicate PayPal is now buying 100% of all new Bitcoin entering the market.

In a new market report, Pantera CEO Dan Morehead tracks the amount of BTC being purchased on itBit, the Paxos-owned crypto exchange powering PayPal’s Bitcoin ecosystem.

ADVERTISEMENT

“In the last seven months, we’ve had two huge shifts – one in demand, one in supply – both upwards. On the demand side, we’ve had public companies like PayPal enter the market.

That shifts the demand curve much higher. At the same time, the supply of newly-issued Bitcoin was cut in half in May – as part of the every-four years halving of Bitcoin issuance. Fewer bitcoin are available…

When PayPal went live, volume started exploding. The increase in itBit volume implies that within two months of going live, PayPal is already buying more than 100% of the new supply of Bitcoins.”

Source: Pantera Capital

Morehead also points to MassMutual’s recent Bitcoin investment and MicroStrategy’s ever-increasing Bitcoin allocation as further signs of a BTC supply crunch.

Early this year, Pantera used Bitcoin’s stock-to-flow ratio to predict BTC will hit $115,000 by August of next year.

Morehead says Bitcoin’s recent price action has actually moved slower than predicted. The firm is now anticipating Bitcoin will reach the meteoric price point around October of 2021.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix
ADVERTISEMENT


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/azazello photo studio

Submit a Press Release

Crypto Livewire – Press Releases

  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
  • Ethernity Chain Launches Authenticated NFT Marketplace to Curtail Fraud
    April 13, 2021
  • ConsenSys-Backed Virtue Poker Raises $5 Million Strategic Round
    April 12, 2021
  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$56,339.00
$56,339.00
9.37%
Ethereum
$2,217.82
$2,217.82
9.81%
Binance Coin
$476.29
$476.29
10.97%
XRP
$1.36
$1.36
21.37%
Polkadot
$36.46
$36.46
14.85%
Cardano
$1.24
$1.24
13.51%

Spotlight

  • Cardano Has One Big Edge Over Other Cryptos, Says Coin Bureau
    April 12, 2021
  • IMF Increasing Focus on Digital Currency Revolution and Cross-Border Remittances
    April 16, 2021
  • Music Mogul Akon Working With Two African Nations To Build Crypto-Powered Cities
    April 13, 2021
  • Top Trader Says Crypto Asset That Surged 2,550% in Two Months Has No Limits
    April 17, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×