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Transaction volumes on Bitcoin surpass PayPal, will it beat Mastercard, Visa next
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The mainstream adoption and acceptance of Bitcoin over the past couple of years has translated into good numbers. The cryptocurrency network reportedly surpassed the leading payment platform PayPal, by conducting 62% more transactions in terms of dollar value, as per a report by Blockdata.
Although this was a significant milestone to achieve, the real test for Bitcoin lies ahead, in conquering payment giants such as MasterCard and Visa. In 2021, the Bitcoin network processed about $489 billion per quarter. On the other hand, PayPal processed $302 billion per quarter, while Mastercard and Visa were significantly ahead at $1.8 trillion and $3.2 trillion per quarter, the report noted.
Source: Blockdata
The above chart shows that a significant
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