New hints dropped by the CEO of eBay, John Donahoe, appear to suggest that subsidiary company PayPal could receive the option to open a balance in the Bitcoin virtual currency soon. Last week, during the eBay shareholder meeting, Donahoe raved about how virtual currencies are "exciting and emerging" as shareholders explored new ways to extend the services offered by the eBay group.
eBay itself received a virtual currency option last month meaning that people can now buy and sell Bitcoin using eBay legitimately. As International Business Times reports, Donahoe described how he views Bitcoin and other similar digital currencies as "game-changers", adding that "Bitcoin is definitely on our radar" in reference to possible new currencies for integration with PayPal.
Could one of these signs soon be hanging on PayPals digital door?
PayPal is the largest online currency exchange for individuals and businesses alike. It powers millions of secure payments on hundreds of thousands of sites across the internet daily. By becoming a Bitcoin wallet provider, it could extend its appeal even more.
The main question regarding the possibility of Bitcoin support within PayPal is whether it would actually turn out to be a positive addition in the long-term as eBays John Donahoe believes it will be. With the recent collapse of the Mt.Gox Bitcoin exchange and the subsequent loss of hundreds of thousands of Bitcoins and sudden plummet in general Bitcoin value, reminders of the volatility and instability of such currencies are occurring more and more often.
Uncertainties also remain regarding how the law and banks approach the usage of digital crypto-currencies. PayPal will have to carefully consider these and many other factors before introducing Bitcoin support.