Bitcoin, the world’s top cryptocurrency by market capitalization, currently sees a lot more in annual transacted value than PayPal and is second only to Visa.
According to the ARK Invest crypto analyst Yassine Elmandjra, Bitcoin’s $1.3 trillion transacted value seen in 2018 is only “an order of magnitude” away from that of leading processor Visa.
Data from as far back as 2015 shows that Bitcoin has experienced a tremendous growth rate in terms of transaction value. The top virtual asset reached peak values in 2017 as it saw an increase in transacted value nearly eight times more than what is recorded in 2016.
Bitcoin transactions are expected to continue growing in 2018 and beyond. If it records a performance that matches its 80 percent yearly growth compared to the last five years, it will put itself in a very strong position to challenge Visa.