Bitcoin Surpasses PayPal In Transaction Value
According to an ARK Invest crypto analyst, Yassine Elmandjra, the transaction dollar value of Bitcoin has outperformed that of PayPal and of credit card Discover; Visa tops the list by a significant margin though.
Bitcoin’s transacted value is estimated to be $1.3 trillion. This cryptocurrency has recorded stable growth in its transaction volumes since 2013. Last year, approximately $3-4 billion worth of Bitcoin was transacted daily. However, the analyst points out that the real deal is in increased total value of Bitcoin: “Look at the transaction value, NOT the transaction volume.”
Forecasts show that Bitcoin transactions will continue to grow. If a 80% annual growth trend of the last five years is continued, Bitcoin has a chance to challenge Visa. However, many see the lack of solutions to Bitcoin’s scalability problem as a major obstacle.