Bitcoin Transaction Volumes to Surpass Visa's by 2022
Bitcoin is currently in a bear market and with it has come doubters and negative perceptions. But there are some positive aspects as focus moves away from simply price. Currently, the famous crypto is handling more transaction volume than PayPal. And if that was not enough, it is getting close to VISA, very fast.
In 2018, Bitcoin transacted $1.3 trillion dollars. This is a great number, considering that Bitcoin is in a bear market since December 2017. The information has been released by Yassine Elmandjra, a cryptoanalyst at ARK Invest.
In a series of Tweets, he wrote that Bitcoin is just an order of magnitude away from Visa. He wrote about it:
“Look at the transaction value, NOT the transaction volume. $3-4 B worth of bitcoin has been transacted daily in the last year. At ~ $1.3T annually, Bitcoin’s base layer transactional value is within an order of magnitude away from Visa’s.”
Visa handled $8.9 trillion dollars back in 2016. Bitcoin seems to be far from it, at least at the moment, in terms of transaction value. But since 2015, Bitcoin experienced an important growth rate each year. If the current trajectory keeps – 80.17 percent increase per year – Bitcoin would overtake Visa in 2022. By that time, it should be handling over $13 trillion dollars in payments.
Source : https://usethebitcoin.com/bitcoin-transactions-nearing-visa-levels/
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