PayPal Already Impacting BTC Market
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In Pantera's November 2020 Blockchain Letter, titled Bitcoin Shortage, they observe that bitcoin volumes on Paxos, the underlying crypto partner for PayPal, have gone through the roof since PayPal enabled crypto purchases on Nov 12th:

Pantera goes on to note that it looks like PayPal alone - after just one week of operation - is "buying almost 70% of the new supply of bitcoins".
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