Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026 – CryptoSlate


Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more.
Bitcoin’s network has overtaken PayPal in the amount of dollar value it processes and could soon match that of Mastercard as it already processes 27% of its value.
Image by Bastian Riccardi from Pixabay
Market intelligence platform Blockdata has suggested in a new report Bitcoin could outstrip credit card giant Mastercard in the number of dollar transactions value processed.
Just recently, Bitcoin overtook the giant payment tech company, PayPal, in terms of value transfer. At the time of writing, the Bitcoin network recorded about $489 billion in processed value per quarter while PayPal’s value was around  $302 billion.
While this represents a major milestone for the crypto industry, the value pales significantly against that of Mastercard and Visa—the other leading payment companies in the world.
Per available data, the two credit card giants processed around $1.8 trillion, and $3.2 trillion worth of transactions in the previous quarter respectively.
If Bitcoin’s network value is compared against those two, it would represent just 27% and 15% of the transaction volume processed by those giant fintech companies.
Blockdata, however, in a November 25 report titled When might the Bitcoin network process volumes like Mastercard and Visa? suggested how the Bitcoin network could match these companies in the Dollar amount of transactions being processed.
“If Bitcoin were to increase its value transferred per transaction today by 260%, it would be processing an equivalent volume to Mastercard on a daily basis.”
The report also identified a rise in the price of Bitcoin as another potential factor that could send the value process of the Bitcoin network to the same level as Mastercard.
According to the report, if the flagship continues at the pace of its current growth, it would match Mastercard’s level in a couple of years, i.e. if the current pace of growth is sustained, Bitcoin could be processing the same level of transaction with the payment company by as early as 2026.
However, if Bitcoin’s yearly average price is put into consideration, it could take as long as 2060 before the network is able to match that of Mastercard.
The report concluded that even if BTC is unable to match that of those payment companies soon, it has performed admirably well for a network that began a little over a decade ago.
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Despite the bombastic announcement, not everyone is buying El Presidente’s shiny facade.
Andrew Bailey continues to slam Bitcoin in his latest address by calling the El Salvador experiment concerning.
It appears that Bitcoin whales do not care about the current price dip of the asset as they have spent over $2 billion in the last seven days.
Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Access more crypto insights in every article as a member of CryptoSlate Edge.
Institutional investment into Bitcoin within the last one year is now over $6 billion with Solana seeing around $43 million within the space of one month.
Although total value locked (TVL) across all platforms dropped over 4% last week, Avalanche (AVAX) and Cronos Chain (CRO) defied the DeFi market’s downturn.
The total value locked in Ethereum’s scaling solutions reached its all-time high.
Ridyard has spent over five in the cryptocurrency space, going from mining on the genesis block of Ethereum in early 2015 to building and exiting a YCombinator company that built decentralized deal-room software for insurance companies in 2017.
Tallinn, Estonia, 28th November, 2021 — Estonia, Tallinn, November 28, 2021: lists QANX Token, the utility token of QANplatform as a trading pair to widen its portfolio with a quantum-resistant Layer 1 blockchain.
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2021 CryptoSlate. All rights reserved. Terms | Privacy


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Why is Bitcoin so Volatile? –

Next Post

One Ethereum Rival Primed for All-Time Highs As ETH Sets Up for Massive Breakout Against Bitcoin: Top Crypt… – The Daily Hodl

Related Posts