Bitcoin Surges to Highest Since July 2019 After PayPal Embrace

Bitcoin surged past $13,000 for the first time since July 2019 after PayPal Holdings Inc. announced it will allow customers to use cryptocurrencies.

The largest digital coin increased $950, or 8% during tradition trading hours in New York. It climbed another 2% to $13,119 in early Asian trading. Gains among so-called alt coins were even bigger on Wednesday, with Litecoin jumping more than 13% and Bitcoin Cash surging more than 9%.

PayPal customers can buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop at the ...