LONDON- Bitcoin extended its gains on Wednesday after PayPal Holdings Inc said it will allow customers to buy, sell and hold cryptocurrencies. 

It was last up 3.2% at $12,305, just below its highest this year.

(Reporting by Anna Irrera; Editing by Tom Wilson) ((T.Wilson@thomsonreuters.com; 44-20-7542-4531; Reuters Messaging: t.wilson.thomsonreuters.com@reuters.net))