Satoshi Capital, a quantitative crypto hedge fund based in the US state of Georgia, tweeted yesterday that “BTC is not just a serious global currency, but a serious global payment system as well.”
Over $3.3 trillion was sent using #bitcoin in 2018, more than 6x the volume sent using Paypal.— Satoshi Capital Research (@chartingbitcoin) January 22, 2019
BTC is not just a serious global currency, but a serious global payment system as well. pic.twitter.com/o4Tb2EFUUw
According to the firm, Bitcoin transaction volume for 2018 totaled around $3.3 trillion, six times more than the transaction volume of PayPal within the same year. One potential reason for Bitcoin’s massive lead is that the apex cryptocurrency is borderless. Anyone can send and receive Bitcoin at any time. PayPal, on the other hand, restricts users in some African countries from receiving payments.
2018 has also shown crypto's potential to overtake many big players in the industry in the not too distant future. Ripple is already challenging SWIFT and many industry experts believe a major wave of adoption is on the way which will only make it more difficult for traditional companies to keep up.