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PayPal Offers Big Potential for Buying Bitcoin, John Lennon's Son Believes


u.today 31 December 2022 10:59, UTC
Reading time: ~2 m

Son of the legendary musician John Lennon and his wife multimedia artist Yoko Ono Sean Ono Lennon has taken to Twitter to share his opinion on PayPal, Bitcoin and CBDCs.

Lennon on PayPal and Bitcoin: "Anyone can buy $1 of BTC"

Sean Lennon has been tweeting supportive posts on Bitcoin over the past two years, beginning when the pandemic kicked off in 2020. Back then, he shared on Twitter that Bitcoin had given him more optimism than anything else in that year.

Overall, he has been supporting not only the flagship coin in his tweets, but also other top cryptos, such as Cardano's ADA.

This time he shared his doubts about central banks striving to build a bad imitation of Bitcoin, creating Central Bank Digital Currencies (CBDCs) by denying BTC itself. He also cited the renowned investor Warren Buffett, who has several times referred to Bitcoin as "rat poison."

Question: Why are the mainstream detractors of BTC also the same people who want to roll out CBDC? If the former is 'rat poison' why should the dollar try and imitate it (badly)?

— Seán Ono Lennon (@seanonolennon) December 30, 2022

As for the high price of BTC for an average buyer, Lennon believes that it is enough to buy even a fraction of Bitcoin, like a $1 worth of it. This was his reply to a comment from a Twitter user who stated he does not have enough money "to even investigate crypto."

You can buy one dollar of bitcoin on PayPal even. I feel like a lot of people are able to do that.

— Seán Ono Lennon (@seanonolennon) December 31, 2022

Now, with Bitcoin dropping hard below the $17,000 level, buying $1 worth of it has become even easier than before.

PayPal giant initially rolled out an opportunity to buy crypto in October 2020, further allowing to withdraw Bitcoin, Ethereum and other top coins to third-party wallets. Those announcements had a positive impact on the BTC price.

Bitcoin trading below 2017 ATH

Since the last all-time high close to $69,000 reached in November last year, Bitcoin, at the time of this publication, is changing hands below the historic peak of 2017 — at $16,561. The price fell sharply from the $18,200 area in early November as the scandal with the bankruptcy of the FTX exchange broke out. Currently, Bitcoin is sitting around 75% below the recent all-time high.

Overall, the crypto market has been bearish this year due to the geopolitical events in Europe and a massive rise in prices on energy around the world.

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