PayPal (PYPL) CEO Dan Schulman said bitcoin’s usefulness as a currency will ultimately prevail over the buy-and-hold ethos, in an interview with CNBC Squawk Box on Monday.

"I think that there'll be more and more use cases for cryptocurrencies," that make bitcoin (BTC, -0.77%) more widely accepted, more stable and probably "more valuable" over time.
PayPal will begin allowing users to transact with crypto as a funding instrument across 28 million businesses early next year.
Schulman said central bank digital currency is a global inevitability. As that happens, "you'll have more and more utility happen with cryptocurrencies," he said.
"Both may play important roles going forward," he said.
PayPal's cryptocurrency purchasing services is scooping up an overwhelming number of newly minted bitcoins, according to Pantera.
Bitcoin was trading hands around $18,480 at the time of his interview.