PayPal is Surpassed by BTC in Transactional Value

Consumers have transacted over 1.3 trillion USD since the beginning of the year using BTC, which is higher than the numbers reported by Paypal and Discover.

Yassine Elmandjra, the crypto-analyst currently working for ARK invest, believes the attention at the moment has shifted from the value of BTC in dollars to the number of transfers made through BTC annually.

Still, BTC has a long way before they could surpass Visa. As of last year, Visa has completed over 9 trillion USD in transactions. Visa, however, is different from BTC as the processed transactions are usually extra charges for the payments made through the cards, while BTC sends money directly.

Speculative trading, though, remains as the major factor behind the BTC value of transactions. Although the currency may boast the higher volume of transactions, it still struggles to gain nearly half its value since the beginning of the year.

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