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Report: 17% of PayPal users have traded Bitcoin through PayPal, 65% of users use BTC to pay for goods and services

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Mizuho Securities surveyed 380 PayPal users about their trading habits.

Rhythm BlockBeats news, on December 2, according to a survey report by Mizuho Securities, one of the top five securities companies in Japan, 17% of the surveyed PayPal users indicated that they had used PayPal to trade Bitcoin Bitcoin, while 65% said they would use Bitcoin to pay for goods and services. In this survey report, Mizuho Securities surveyed 380 PayPal users about their trading habits.

The survey also showed that about 50% of PayPal bitcoin traders said that after starting to trade bitcoin, Increased frequency of use of the PayPal app. However, there are still some users who do not understand this feature. While 8% of non-Bitcoin traders said they plan to trade Bitcoin on the PayPal app in the future, 42% of non-Bitcoin traders said they "don't know about it yet."

In the report, Mizuho pointed out that bitcoin transactions among the PayPal user base may be beneficial to stock prices. The report raised the company's price target on the stock to $290 from $270 ($218 today), and said revenue could rise about 20 percent next year.

PayPal stock has risen more than 100% since the beginning of the year. Bitcoin’s price is up nearly 164% year-to-date.