PayPal announced Wednesday that it will soon begin letting users buy cryptocurrency within its app. The news was hailed as transformative by advocates of decentralized currencies such as bitcoin.
Bitcoin continued a strong upward trend on the news, reaching annual highs above $12,400. Cryptocurrencies available to PayPal users will include Ether, Bitcoin Cash, and Litecoin, in addition to bitcoin. Those currencies also saw sharp rallies this morning.