Bitcoin overtakes PayPal on value transferred, sets sights on Mastercard: Report By Cointelegraph

Bitcoin overtakes PayPal on value transferred, sets sights on Mastercard: Report

Cryptocurrency Nov 26, 2021 04:20PM ET

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Bitcoin overtakes PayPal on value transferred, sets sights on Mastercard: Report

The Bitcoin network already processes more volume by dollar value than PayPal (NASDAQ:PYPL), and the largest decentralized cryptocurrency network in the world by market capitalization could outstrip Mastercard (NYSE:MA) by as early as 2026.

A Thursday report from market intelligence platform Blockdata titled “When might the Bitcoin network process volumes like Mastercard & Visa?” points out that the Bitcoin network processed about $489 billion per quarter in 2021, which is greater than PayPal’s $302 billion. After just 12 years in existence, Bitcoin processes about 27% of Mastercard’s $1.8 trillion per quarter and 15% of Visa’s $3.2 trillion.

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