Bitcoin Network Transaction Volume Surpasses American Express: Research

New research has found that the annual transaction volume on the Bitcoin network surpassed that of some well-known card networks, such as American Express and Discover, during 2021.stated that Bitcoin processed $3 trillion worth of payments during 2021, placing it above popular credit card networks American Express and Discover .

“This is astonishing growth, in our opinion, for a payment network that just had its 13th birthday,” they wrote. American Express issued its first card in 1958, and Discover in 1985. It also should be noted that the study only looked at the $USD value of transaction volume, rather than the actual number of transactions. Therefore, it’s likely that most of the BTC transactions were simply users purchasing, swapping, and selling their BTC rather than using it to pay for anything.

“At the end of 2021, transaction volumes have been growing by nearly 100% annually over the past 5 years.”that the Bitcoin network could potentially match the dollar value transferred on Mastercard’s network by as early as 2026. It also found that the Bitcoin network already processes more volume by dollar value than PayPal.

Buys and sells of the actual coin mixed in with a few purchases. Should say value transferred and not be misleading to have us believe people are actually using Bitcoin this much to make purchases.

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This is a plus for the cryptosphere 💰💰😁😁

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