Mike Novograts: after PayPal, crypt currencies will be accepted by Visa and Mastercard.

After the start of support for Bitcoin and a number of other cryptographic currencies was announced by the payment company PayPal, such market giants as Visa, Mastercard and American Express will follow suit in the future. This opinion was expressed by Mike Novograz, CEO of Galaxy Investment, in an interview with Bloomberg.

He expects that Visa and Mastercard will be able to provide merchants working with them with access to cryptov currencies, including stelecoins, during the year.

„There is no longer a question of whether cryptovolves are a subject of interest, whether Bitcoin is an asset, or whether a blockchain will become part of the financial infrastructure. It is not a question of whether this will happen, it is a question of when it will happen. Every company without exception must have its own plan,“ said Novograts.

However, speaking of Bitcoin, Novograts sees it as a means of preserving value and doubts that the first cryptovite will be widely used as a means of payment.

„I don’t think this will happen in the next five years. Bitcoin is used as a means of saving. So like gold, like digital gold, it will just keep rising. More and more people will want to include it in their portfolios,“ added Novograts.

Recall that PayPal announced the launch of the Bitcoin, Bitcoin Cash, Ethereum and Litecoin buy, sell and store function on Wednesday 21 October. The company expects that the new function will stimulate global use of cryptov currencies and prepare the network for digital currencies of central banks.

Later it was reported that in order to expand its product line, PayPal is considering takeover options for cryptovoltaic companies. Among them is the BitGo processing and custodial service.

Subscribe to ForkLog news on Twitter!