Bitcoin Surpasses PayPal in Transaction Volume, Could Overtake Mastercard in Five Years: Blockchain Intelligence Firm Blockdata

Nov 30

Written By Guest User

Key Points:

According to blockchain intelligence company, Blockdata, there is currently more volume being transacted on the Bitcoin network than through PayPal. Based on their numbers Bitcoin has done $187 billion more than PayPal has per quarter this year.
“If we look at the data, the Bitcoin network processed an estimated average of $489 billion per quarter in 2021. To put that into perspective, PayPal processed an average of $302 billion per quarter in 2021, the Mastercard network processed $1.8 trillion per quarter or 260% more, and the Visa network processed an average of $3.2 trillion per quarter or 540% more.”
Blockdata is also saying that if you use the price growth of BTC as a metric we could see BTC reach the transaction volume of MasterCard in as little as 5 years. This is a very impressive feat for a project that has only been around for 10 years and is a decentralized product at that. To put it into perspective MasterCard was founded in 1966 and BTC has already hit 27% of the volume processed by MasterCard.

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