 Welcome to Digital Asset News, I get top stories in Cryptocurrency and Digital Assets and break them down into bite-sized pieces. Today, Game Changer. This is the first and only story I'm going to talk about. PayPal to open up network to cryptocurrencies. And this is something that we have talked about about three or four weeks ago and now it is a confirmed reality. So we'll go over that. But before we do it, let's take a look at what's going on the market. So today is October 21st. It is 9.50 a.m. in the morning. And I had to stop everything I was doing just to make this video. That is how big it is. So what's going on? Well, Bitcoin's doing pretty good. And why not? It just got listed on PayPal or is going to be used in PayPal. I'm going with three other currencies, which we'll get to in a bit. And Bitcoin went up 7% in 24 hours. 11.3% for seven days and it's almost going to push through 13K. So we will see. Ethereum also up because it is one of them. And I'll get the other ones. Tether's Tether, XRP, Little Pump, Bitcoin Cash, 6.9, Binance Coinflip before. Everything's pretty much up. Even Litecoin, 10.7. Cardano, 3.5, 4.5, 2.9 for EOS. Looks like everything. Crypto.com still down again, which there's been a lot of different problems going on with the rewards program and Crow. So I don't know what to tell you about that one, but it doesn't look too positive. However, there are other options out there for you. If you're a staunch Crypto.com supporter, great. I mean, just stick with them. You know, who knows what will happen? Me, myself and I, I personally like Celsius. They give me a great APY, very secure. Love them. But that's all up to you. Tron, 0.2. Okay. Stellar, 3.1. Tezos, CDI, 9.7. Great. 6.6 for RAP, Bitcoin. That's just RAP, Bitcoin. And that's pretty much it. You're going to see a little bit of a pump today. And I think it's going to continue throughout the week, especially as people start talking about it and they're able to actually wrap their head about what is about to happen. So without further ado, let's take a look at what that is. So PayPal in the game. Congratulations. We all won. So this was sent to me by B-Boy via Twitter. So I want to say thanks so much to B-Boy. I really appreciate it, especially so early in the morning. It was already a good day. Now it turns into a great one. So this is what happened. PayPal Holdings, PYPL, oh, set on Wednesday. That is today. It will allow customers to hold Bitcoin and other virtual currencies in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network. Let you just sit back, take that in and realize what's going on. What this is, is this is mass adoption on a grand scale that really couldn't be done without PayPal coming into the fray. And the things they're doing to make this happen, I understand now why it took so long for them to do it. We'll get into it. I got to say, tip of the hat, because PayPal really did a great move here. First of all, they were going to do the Facebook Libre project. But they quickly realized that was a non-starter for regulation issues and the fact that PayPal had so much heat around them. And they went off and they said, you know what, let's just meet behind closed doors and figure out what we're going to do. And they played it perfectly. So this story, it's 9.50 right now and this story came out just 30 minutes ago. It should be a Reuters. So this should be a good one and people should be talking about this all day long. Anyhow, the new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies, which could help, could, that's funny. This could help Bitcoin and rival cryptocurrencies. There's no rivalries. We're all in the same field. We're all trying to do the same things. We're all trying to get mass adoption. So yes, different cryptocurrencies do different things. But in all honesty, it is us against the world and I like to feel like we are all one big community and this just kind of proves it. So what's good for one is good for all. Bitcoin comes up and some other projects get going. Water rushes in, all the ships rise. So let's just take this W today. Let's sit back, you know, sit back in our recliner sofa chair and just go, you know what, we did it. This is a big step. The San Jose California-based company, PayPal, hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop. President and CEO Dan Schulman said in an interview, so they're saying, hey, look, we know that you central banks are not great at innovation. So we're going to help you out. We're going to step in and kind of, you know, get the fire going to be a catalyst and then you guys can catch up because that's what you guys do. You guys are not innovators. We're innovators. That's what we're all about. So he states, we're working with central banks and thinking of all forms, digital currencies and how PayPal can play a role, he said. And it's a good strategy. They're working with them. They're not working against them. But they're like, hey, we know you guys got problems. We'll help you out. U.S. account holders. This was big for me, some of the U.S. U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. PayPal plans to expand the service to its peer-to-peer payment app Venmo. Wow. They're going to go not only from, for PayPal but the peer-to-peer app Venmo and some other countries in the first half of 2021. What that means is that I don't know where you're at. I don't know if you're in Spain, Japan, in China or whatever, but Venmo in the U.S. and I think around the world in some places is pretty big. We, I use it a lot around here and it's really great because I can just, you know, make a transaction via Venmo to anybody via text message and works out pretty good. So if I can do something like this and I'm like, oh, I got cryptocurrencies. I can use that, boom, off it goes. This is going to be great, actually, to help me pay for certain things. So I'm really, really jazzed and excited about this. But when I was reading that, I just thought to myself, Jesus, if I was an exchange, I would be kind of like, dang it, there goes, there goes some more business because I mean, look, PayPal is everywhere. And, you know, even, even Binance has got to be saying, you know, Jesus is going to cut into our business. I mean, make no mistake about it. There's, I would assume, I don't know for sure, but there's probably a little bit of a fee and if they can undercut some of the prices of say a Coinbase, not good for Coinbase. Again, just eating it at the market. But I don't know, we will see. I mean, that's the whole thing with the business and free markets, the better business, the better products will rise to the top and other places will fight for the scraps. Anyhow, the ability to make payments with crypto will be available from early next year, the company said, fantastic. And like I've always said in this channel, 2021 is going to be the year. I just don't see any way around it. And this is just one of those things like, we will probably point back to this and go, what happened in October? Well, we had MicroStrategy, a big company come out and buy almost half a billion dollars worth of crypto. We had Square come out and they bought 50 million. We had NY Dig, I forgot to name another company. They came out and they bought 110 million. And then on top of that, Grayscale keeps buying up everything left and right for their customers. We got Fidele Digital Assets. We have Ameritrade. We have all these different big companies, Paul Tudor Jones. Just everything's coming out of the woodwork to really build up to what I think is massive, just a massive bull run. This is the time. So if you hear right now, congratulations. You really timed it fantastic, but we'll see. I could be wrong, but who knows? Anyhow, PayPal's launch is not worthy given its size. The company has 346 million active accounts. Let me say that again. 346 million active accounts. Not all of them will use cryptocurrency assets, but when you start hearing things again and again and again in sales, we have this saying, it takes people between seven and 10 times to actually see it before they actually buy it. So it's the same thing with crypto and digital assets. Once you start hearing about Bitcoin, you know, seven to 10 times and people are talking about, you know what, digital gold, you transfer it anywhere. Used to be a nickel. Now it's, now it's, who knows at this point, it might be 15,000 and it's really gone up. It's the best performing asset class in the whole entire decade. People will be like, hmm, maybe I should invest into that before it goes to a million like this crazy nut, Ralph Powell says, who was a, you know, a VP of operations for Goldman Sachs and other people who have been talking about maybe going to 250,000, maybe 500,000 like Tim Draper. 346 million accounts and processed 222 billion in payments in the second quarter. Not for the year, just a second quarter. Moving down, the price impact will be positive overall. Joseph Edwards of Enigma Securities, a crypto brokerage in London said, and that's the biggest no brainer comment I've ever heard in my life. And here's the issue. And this is what I actually had to sit back and, and thank to myself, well, this is why it takes so much time for these big companies to get in. And it's always about risk and it's always about mitigating that risk and finding a solution. So cryptocurrencies of volatility is attractive for speculators, me and you, but poses risk for merchants and shoppers because transactions are slower and more costly in their mainstream payment system. So the volatility is an issue and the speed of course, there's different cryptocurrencies for that that we know of. PayPal believes a new system will address these issues as payments will be settled using traditional currencies such as the US dollar. Let me say that again. They will be settled with traditional currencies such as the US dollar. This means PayPal will be managing the risk of price fluctuations and merchants will receive payments in virtual coins. So they will still be used and just that they will be settled in traditional currencies. Still a win. I still like what I'm seeing. PayPal services comes as some central banks have announced plans to develop digital versions of their currencies following a Facebook-led crypto project Libra in 2019, which was met by a strong regulatory pushback. And we talked about this in detail yesterday where Jerome Powell came out for the IMF meeting and he said, Hey, we're looking into those CBDCs right around the corner. We're really we're going to put together a task force and really check it out, which was the same thing he said eight months ago. So I'm like, these guys are not innovators. They're not going to do it. They're not going to drag their feet and that's about it. It's going to take a company like this, like PayPal is like, Hey, again, we're the innovators. Step back, grab some bench and we'll figure it out for you. And this is what it was interesting about the Facebook project Libra because PayPal was a big part of that and they were among the founding members but they dropped out a few months into it and they said Facebook can't do this. They can't get into because the governments hate Facebook because of all the different problems that they had with the data collection and the data manipulation and also the the loss of privacy data and what was going on with the elections. And I mean, look, Facebook had a big target on its back. So when they try to do this, they're like, we're not going to let you do that. So PayPal said, okay, we're going to step back and we'll figure it out ourselves. And here they are, fruits to labor. Congratulations. Finishing up PayPal has secured the first conditional crypto license from the New York State Department of Financial Services and this is where it gets good. The company will initially allow purchases of Bitcoin and other cryptos called Ethereum, Bitcoin Cash and Litecoin and that's it. So maybe they'll have support for this later on but this is the initial ones that they went for. So if I was a betting man, I would assume that these different cryptos are going to go up massively over the next 24 hours. Maybe not massively. Maybe another 5%, I don't know, 10%. Who knows? But it's up to you about where you want to spend your money but I would look at those very, very hard. Anyhow, that is it for today. I will probably do a video later today something a little bit more in detail but I had to get this one out because it's such big news and all the different things we've been talking about on this channel and I know some days are tougher than others. We look at these big sea of red like we just saw yesterday. It was just sea of red everywhere, right? Today, pay the W. Talk to people. Tell them what's going on. Elaborate. One of the big things is just enjoy it because there's only so many days you get to sit back and take that W because there's a lot of tougher days out there. So this is the day to enjoy. Also, it's about 10 a.m. I'm going to edit this. It should be up around 10.30, 10.45, something like that. I will probably go live around 11.30 over at Theta. Just look in the description of every one of my videos. My Theta channel is there. I'll be going live and just stop by, say hi, maybe talk about what the heck's going on, take the W, smoke some cigars. Check that out if you've got time. And that is it. So thanks for sticking with me through the whole thing and congratulations. It's a great day.