PayPal clip: "We can spend Bitcoin with a tap without a pocket"

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A PayPal clip on Youtube, posted yesterday, apparently indicates that the payment processor is at peace with Bitcoin.

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Branded “A People Economy, Now More Powerful than Ever”, a chorus of people chants the merits of a revolutionary way of making all sorts of payments.

It coincides with their subsidiary Braintree’s recent announcement to launch one-touch and Bitcoin payments, although the clip doesn’t mention this explicitly.

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10 seconds in, the chorus says:

“Our phone is our wallet. We can spend Bitcoin with a tap without a pocket.”

Bitcoin had previously been touted as a threat to PayPal’s business, but a series of developments over the past 6 months have indicated that the payment processor and their parent, eBay, are warming up to working with the cryptocurrency. This comes a long way from reports of them censoring Bitcoin-related sales earlier this year.

Understandably, the clip has generated much excitement in the community, with a reddit thread currently at 672 comments.