BlockData: Bitcoin is 1.5 times higher than PayPal in terms of transaction volume

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For the IV quarter of 2021, transactions in the amount of $ 489 billion were carried out in the Bitcoin network, which is significantly higher than the same indicator of the PayPal payment system – $ 302 billion.

According to a report by BlockData, since the beginning of this year, the volume of transactions on the network of the first cryptocurrency has exceeded the volume of payments through the PayPal system. At the same time, the volume of transactions through the Mastercard system for the IV quarter amounted to $ 1.8 billion, and through Visa – $ 3.2 billion.

Over the 12 years of Bitcoin’s existence, the volume of transactions on the network has reached almost a third of that of Mastercard. Analysts expect that by 2060, the network of the first cryptocurrency will be moving more amounts than through Mastercard. And if the BTC rate continues to grow at the same pace, this may happen by 2026.

“It is extremely impressive that in just 12 years of existence, Bitcoin has reached a third of the transaction volume of Mastercard, which was founded in 1966,” analysts at BlockData said.

In September, Chainalysis announced that from July 2020 to June 2021, cryptoasset transactions worth $ 1 trillion were carried out in Europe.

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