With 26 million merchants, PayPal has certainly kicked off a bull run for bitcoin the past few weeks, and it doesn't look like they're done buying. PayPal is in aggressive talks to acquire cryptocurrency firms including a Goldman-backed startup BitGo, according to Bloomberg. BitGo raised $58 million in venture capital funding in 2018 at a valuation of $170 million. BitGo is based in Palo Alto, California and was founded in 2013 by Chief Executive Officer Mike Belshe. They are a digital asset trust company, headquartered in Palo Alto, and offer digital wallet custody with multiple signature security for transactions as well as offline vaults for Bitcoin and other cryptocurrencies. They are trusted by numerous centralized exchanges like Paxful and Nexo. PayPal, meanwhile, hopes to increase crypto adoption and understanding by consumers by introducing the ability to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin directly within the PayPal digital wallet. The service will be available to PayPal accountholders in the U.S. in the coming weeks. In August, BitGo applied to New York regulators to become an independent, regulated qualified custodian under the state's banking laws. A deal might be reached in the coming weeks to sell BitGo, although rumors have it that PayPal may work with BitGo competitor Paxos Trust Company or the cold storage wallet Xapo—who serves institutional investors. Galaxy Digital CEO Mike Novogratz recently said on CNBC Squawk Box that PayPal's mass embrace of crypto was "the shot heard around the world" for bankers.