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Bitcoin has been in the headlines considering the price fluctuations it has been seeing recently. It is currently trading at $57,573 (at the time of writing).
However, the ups and downs in BTC’s price is not the only reason it has everyone’s attention. Bitcoin’s network has reportedly surpassed PayPal in terms of the amount of dollar value. This is a huge milestone for the flagship crypto asset and can contribute to a price surge soon, as anticipated by the analysts.
Bitcoin is the largest crypto asset in the market and has a much higher value than many expected. It has undeniable utility and its prominence has also significantly grown. Therefore, if you are interested in buying the crypto king then make sure you choose the best Bitcoin exchange.
If you are new to the crypto space and want to buy Bitcoin then you can click on SwissBorg or Kraken (U.S. citizens).
[kraken]
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The Trajectory of Bitcoin’s Value and More
Even though Bitcoin’s price is moving up and down, its value is nonetheless the same and may even increase with time. It is now being recognized and accepted by major entities as well, which adds to the utility of the crypto king.
As mentioned above, the flagship digital asset has overtaken the payment tech behemoth, PayPal, in terms of value transfer. At the time of the report, the processed value per quarter recorded for BTC was around $489 billion, while the value noted for PayPal was approximately $302 billion.
Now, a new report suggested by Blockdata states that Bitcoin’s value might overtake Mastercard and Visa, two of the leading payment companies in the world.
- Mastercard processed approximately $1.8 trillion worth of transactions in the last quarter
- Visa processed around $3.2 trillion worth of transactions in the last quarter
The report by Blockdata stated:
“If Bitcoin were to increase its value transferred per transaction today by 260%, it would be processing an equivalent volume to Mastercard on a daily basis.”
The increase in Bitcoin’s price and value is a major factor why the report speculates that the flagship digital asset might overtake Mastercard as early as 2026. However, it has also been acknowledged that BTC’s progress and growth are admirable, even though there is some time left for it to be where the above-mentioned payment companies are.
What Should Bitcoin Investors and Traders Know?
Bitcoin is the largest digital currency in the world and has seen plenty of growth over the years. It has also been recognized by numerous major and minor entities, which contributes to its increasing value.
Even though the price has been fluctuating over the last few weeks, the significance of Bitcoin has not been negatively impacted. The crypto king is also anticipated to see a price surge soon.
Therefore, if you want to invest in the crypto asset, make sure to choose the lowest fees Bitcoin exchange.
If you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.
