The CEO of Paypal, Daniel Schulman, has revealed in an interview that he personally owns bitcoin. He also talked about Paypal’s plans regarding cryptocurrency, how to achieve mass adoption, and why Paypal decided to leave Facebook’s Libra project.
Schulman Owns Bitcoin
Daniel Schulman, the president and CEO of Paypal, admitted in an interview with Fortune last week that he personally owns bitcoin. He joined Paypal in 2014 to lead it as an independent company from Ebay Inc.
Schulman was asked numerous questions regarding his crypto investment, Paypal’s crypto projects and the company’s decision to exit the Libra project. As for his own crypto holdings, the publication asked: “Do you personally own any cryptocurrencies?” The CEO promptly replied:
To clarify that he only owns one type of cryptocurrency, the publication further asked, “Only Bitcoin?” The executive confirmed, “Only. Yes.” However, he did not reveal how much he owns.
Paypal CEO Daniel Schulman
Schulman brought extensive experience in payment solutions to Paypal, having served as Group President of Enterprise Growth at American Express, President of the Prepaid Group at Sprint Nextel Corp, CEO of Priceline Group Inc., and holding various leading positions at AT&T.
Paypal’s Own Crypto Projects
Paypal is also working on its own crypto projects. CFO John Rainey said earlier this year that the company had teams working on blockchain and cryptocurrency. Fortune asked the CEO if he could share some details of the projects Paypal is working on. However, he replied: “Yes and no. Some of this is competitive, and we don’t really want to,” but noted that what Paypal is working on is “not necessarily competitive with Libra.”
Emphasizing that cryptocurrency is “still very volatile,” the CEO revealed,