The price of bitcoin hit a record high for 2020 on Wednesday, after PayPal announced plans to integrate cryptocurrency into its online payment platform.Bitcoin’s price rose by more than 5 per cent following the news, taking its total gains since last week above $1,000. It is currently trading above $12,400.PayPal said customers will be able to pay using bitcoin and other cryptocurrencies at the 26 million merchants on its network from next year.As the world’s number one online payments platform, bitcoin’s reach will extend to its roughly 346 million customers worldwide.