According to Blockdata, the world’s oldest decentralized cryptocurrency network, Bitcoin, has surpassed PayPal in terms of volume processed.
The Bitcoin network processed around $489 billion per quarter on average in 2021, while PayPal processed only $302 billion. The Mastercard network processed $1.8 trillion per quarter, or 260% more, and the Visa network processed an average of $3.2 trillion per quarter, or 540% more.
The report also suggested that Bitcoin could reach Mastercard/Visa-level volumes based on three factors, including the number of transactions rising, the average amount of BTC sent per transaction rises and the surge of BTC price.