PayPal Holdings (PYPL) gains 1.6% in after-hours trading after BTIG analyst Mark Palmer upgrades the fintech stock to Buy from Neutral as he sees its long-term growth trajectory steepening with the introduction of its bitcoin and crypto service.Palmer assumes that the increase in trading on Paxos's itBit crypto exchange in recent weeks reflects trades executed for PYPL customers."We believe crypto could add more than $1B to the company's annual revenues by 2022," Palmer writes in a note. "Much more importantly, the traction seen in itBit’s rising crypto volumes bodes well for PYPL’s active account growth and engagement."Sets price target at $300, implying 23% upside potential.PayPal shares have doubled in the past year, which still trails Square stock, which has more than tripled (see chart below.)Previously (Nov. 12): PayPal pulls crypto waitlist, ups weekly purchase limit to $20K
