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PayPal’s chief financial officer, John Rainey, spoke positively of BitCoin’s (BTC) use as a future popular option for payments during an interview with The Wall Street Journal (WSJ) published Monday, Feb. 19.

Rainey said that PayPal was one of the first companies to accept BitCoin on their Braintree platform back in 2015.Rainey adds:“ Given the volatility of BitCoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept BitCoin  and the very next day BitCoin drops 15%, you are now underwater on that transaction.” Rainey tells WSJ that there is “a very high likelihood” of that happening: “

The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”

PayPal co-founder Max Levchin said in December of last year that while he thinks Blockchain technology is revolutionary, he hasn’t “figured out” his views on BitCoin's future yet.

Coinbase, a cryptocurrency wallet and exchange platform, added former PayPal executive David Marcus to its board of directors last December.

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PayPal’s chief financial officer, John Rainey, spoke positively of BitCoin’s (BTC) use as a future popular option for payments during an interview with The Wall Street Journal (WSJ) published Monday, Feb. 19.

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