PayPal increases weekly cryptocurrency purchase limit fivefold to $100,000
Summary
PayPals users can now buy $100,000 worth of bitcoin and other digital assets per week, up from a previous limit of $20,000. "These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform," Jose Fernandez da Ponte, PayPals vice president and of blockchain, crypto and digital currencies said in a statement Thursday. The product has a $1 spending requirement and lets users share crypto purchases with friends through Venmos social feed. At the time, the move was seen as a significant step to bringing digital assets to mainstream buyers and fueled bitcoins rally earlier this year. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
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