What Does Bitcoin Mean for PayPal Stock?

It's estimated that up to 200 million consumers worldwide have transacted with Bitcoin (CRYPTO: BTC) in some way. As Bitcoin and other digital coins become more popular alternatives to holding cash, it's imperative for PayPal Holdings (NASDAQ: PYPL) to offer its more than 400 million active customers a means for transacting with Bitcoin, especially if it wants to keep up with the competition. Through the first half of 2021, Square's (NYSE: SQ) Cash App was downloaded at almost twice the rate of PayPal's Venmo.