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Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026.
Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026. Bitcoin is a cryptocurrency that has been gaining attention recently. It is the first decentralized digital currency and it is not controlled by banks or governments. The “paypal to bitcoin reddit” is a subreddit where users can discuss anything related to Bitcoin.
In a recent analysis, market intelligence firm Blockdata claims that Bitcoin might overtake credit card giant Mastercard in terms of dollar transactions handled.
Bitcoin has a higher monetary value processing capacity than PayPal.
Bitcoin just surpassed PayPal, the world’s largest payment technology firm, in terms of value transfer. The Bitcoin network handled roughly $489 billion in value every quarter at the time of writing, whereas PayPal’s worth was about $302 billion.
While this is a huge milestone for the crypto business, it pales in comparison to the worth of Mastercard and Visa, the world’s two main payment firms.
According to available statistics, the two credit card behemoths handled $1.8 trillion and $3.2 trillion in transactions in the preceding quarter.
When compared to those two, Bitcoin’s network value represents just 27% and 15% of the transaction volume handled by those two behemoth financial firms, respectively.
How can Bitcoin compete with Mastercard and other credit cards?
When may the Bitcoin network handle quantities like Mastercard and Visa?, according to Blockdata, in a research published on November 25. presented a way for the Bitcoin network to equal these corporations in terms of transaction dollar volume.
“If Bitcoin’s value transmitted each transaction increased by 260 percent today, it would handle the same volume as Mastercard on a daily basis.”
A increase in the price of Bitcoin, according to the paper, is another possible driver that might push the Bitcoin network’s worth to the same level as Mastercard’s.
According to the analysis, if the cryptocurrency maintains at its present rate of development, it will catch up to Mastercard in a few years, i.e., if the current rate of growth is maintained, Bitcoin may be processing the same amount of transactions as the payment business by 2026.
However, if the annual average price of Bitcoin is taken into account, it may take until 2060 for the network to catch up to Mastercard.
Even if BTC is unable to equal the performance of those payment firms in the near future, the analysis found that for a network that started little over a decade ago, it has done wonderfully well.
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Posted in: Bitcoin, Payments, Payments, Payments, Payments, Payments, Payments
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Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026. The cryptocurrency is currently worth $3,7 billion and has a market cap of $65 billion. By the year 2026, Bitcoin’s market cap could reach $6 trillion. Reference: can i transfer my paypal crypto to coinbase.
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