Bitcoin has attracted massive interest, particularly in the last 18 months. Its price has held steadily above $50,000, and the value of other cryptocurrencies has been on the rise. The digital currency trading platform Coinbase went public earlier this month, giving the company a valuation over more than $80 billion. Companies like Tesla now accept Bitcoin as a form of payment on its cars.
Venmo will only allow users to buy, sell or hold crypto currencies. The company is not allowing its users to send these currencies as a form of payment between users yet.