PayPal held $604 million in BTC and ETH in 2022 for its customers

PayPal held $604 million in BTC and ETH in 2022 for its customers

A harshest crypto winter – THE cryptocurrency prices had a tricky 2022 with the onset of crypto winter. All wallets have been reached. Despite this drop, PayPal, the online payment giant, announces that it will hold for its customers $604 million in cryptocurrencies.

The news was made public in a report annual Securities and Exchange Commission (DRY). Through its 134 pages, this report teaches us that PayPal held a total of $604 million in BTCin ETHin LTC and also in BCH. The majority of the sum being concentrated on 2 assets:

  • $291 million worth of bitcoins;
  • $250 million worth of ether.

Note that this figure reflects the crypto winter and the period we are going through. While the bitcoin is still experiencing red hours today, PayPal’s figures follow the trend and also drop significantly. Indeed, in September 2022Paypal then declared that it held for its customers $690 million. The company confirmed at the time its crypto conquest desires.

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