PayPal's Massive Cryptocurrency Holdings Totaling $604 Million.
PayPal held cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure.
PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of 31 December 2022.
The amount of PayPal’s crypto holdings accounts for 67% of the company’s total financial liabilities.
In October 2020, PayPal introduced the service allowing U.S.-based customers to buy and sell specific cryptocurrencies.
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