CEO John Donahoe is thinking about integrating Bitcoin into PayPal, according to an interview on CNBC Thursday. The integration will make it easier to make everyday payments with the digital-only currency at retailers such as Home Depot and Barnes & Noble, where PayPal is a checkout option both in-store and online.
Donahoe originally said the company was weighing the option at the annual shareholder meeting May 13. Bitcoin “will play a very important role in the future,” he said at the time. “It’s on our radar screen.”
PayPal would be part of a string of big-name companies legitimizing the “cryptocurrency.” Last week, Dish Network became the largest company to accept Bitcoin, joining the likes of Overstock.com and Zynga, which already offer the option.
News of wider retail acceptance has boosted Bitcoin prices more than 80% after they hit a low in early April. One bitcoin currently trades for about $657.