PayPal Holds 67% of Financial Liabilities in Cryptocurrencies including Bitcoin
PayPal, the global payment giant, has invested a considerable portion of its financial liabilities in cryptocurrencies like Bitcoin, as revealed in its recent annual report filed with the Securities and Exchange Commission (SEC) on February 10, 2023. The report states that PayPal held a total of $604 million in various cryptocurrencies including Bitcoin, Ether, Litecoin, and Bitcoin Cash. “Bitcoin has the largest share in PayPal’s crypto assets, accounting for $291 million, while $250 million is held in ETH. The remaining $63 million includes Litecoin and Bitcoin Cash combined,” according to the report. The amount of PayPal’s crypto holdings account for 67% of the company’s total financial liabilities, which were recorded at $902 million as of December 31, 2023. On the other hand, PayPal’s total financial assets stood at more than $25 billion. More here.