Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard: Report
The Bitcoin network already processes more volume by dollar value than Paypal and the largest decentralized cryptocurrency network in the world by market cap could outstrip Mastercard by as early as 2026.
A Nov. 25 report from market intelligence platform Blockdata titled When might the Bitcoin network process volumes like Mastercard and Visa? points out that the Bitcoin network processed about $489 billion per quarter in 2021, which is greater than Paypal’s $302 billion. After just 12 years in existence, Bitcoin processes about 27% of Mastercard’s $1.8 trillion per quarter, and 15% of Visa’s $3.2 trillion.
Three factors could see the Bitcoin network to rise to the level of the two credit card giants in terms of total volume processed: the total number of transactions, the average amount of Bitcoin …
More on: cointelegraph.com