PayPal Holdings Inc. PYPL, +0.35% shares are up 0.5% in midday trading Monday after it was revealed that the company recently filed for a patent related to bitcoin. The company's patent filing was for an "expedited virtual currency transaction system" and was flagged by Bitcoin.com. Such a system could potentially speed up bitcoin BTCUSD, +0.76% transactions and be anonymous. Shares of PayPal were originally down to start the day after the Wall Street Journal reported that Amazon.com Inc. AMZN, +1.43% was interested in creating its own product similar to a checking account. PayPal's stock is up 84% so far this year, while the S&P 500 Index SPX, +1.00% has gained 14%.
Share This
No comments