Bitcoin has processed more than $1.3 trillion USD this year in 2018, which places it ahead of both PayPal and Discover. Cryptocurrency is getting more and more adoption with mainstream consumers, whether or not the price action reflects it directly.
Based on a report from crypto analyst Yassine Elmandjra who works at ARK Invest, a New York firm, he states that too many people are focused on the number of transactions BTC handles annually instead of the actual dollar amount in an aggregate total:
Bitcoin’s base layer transaction volume doesn’t compare to Visa’s, MC’s et al. But it was never supposed to. pic.twitter.com/jiPpxR4SOQ
— Yassine Elmandjra (@yassineARK) August 22, 2018
BTC is placing itself ahead of traditional fiat exchanges but still isn’t close to Visa, which processed $9 trillion in 2017. Though, Visa is used for consumer purchases while PayPal and BTC are in the P2P money transfer filed. However, this just goes to show how digital currency is catching up to the big boys, and BTC is leading the way.
Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.
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