The world is growing increasingly pro-bitcoin as the latest data has shown the digital flagship processed over $ 30 billion in transactions in a day, outperforming other payment gateway systems like MasterCard and Visa .
Bitcoin processed $ 31 billion worth of transactions in one day
While the network has seen its billing numbers drop to around $ 12 billion now, the fact is that the network’s billing value has increased 40-fold compared to last year when the numbers were well below $ 10 billion .
$ 31 billion.
That is how much value was settled on the Bitcoin blockchain in a single day this week.
It’s a new all-time high for Bitcoin and a 40-fold increase in the settlement value since the beginning of 2020.
– Kevin Rooke (@kerooke) October 10, 2021
Nor does it diminish the fact that Bitcoin has become increasingly mainstream as we’ve seen a number of mainstream and institutional assumptions.
Popular crypto market analyst Willy Woo talks about this growth specified Bitcoin’s growth has been phenomenal because judging by its accounting numbers it means the asset is “currently generating ~ $ 190,000 per second. Compare that to $ 130,000 per second for Visa for US customers and $ 55,000 per second for Mastercard. “
The money moving on Bitcoin’s blockchain is back near all-time highs.
It’s currently making ~ $ 190,000 per second. Compare that to $ 130,000 per second for Visa for US customers and $ 55,000 per second for Mastercard.
Lightning network not included. pic.twitter.com/J3Baop3LXE
– Willy Woo (@woonomic) October 9, 2021
BTC is only becoming more dominant
As the world becomes more and more digital and more and more people are exposed to digital assets like Bitcoin, the number of transactions the flagship handles on a daily basis is expected to increase.
We have already witnessed the introduction of BTC from El Salvador, which is increasingly proving how crypto can be used to reduce the cost of sending money overseas. Other developing countries are also observing this development and this could lead them to take over the asset as well.
Anthony Pompliano, a popular pro-crypto Twitter user, meant that Bitcoin and the entire crypto industry would overthrow the traditional financial system to “become more dominant”.
A new Capgemini report on the global payment situation, declares that by 2025 “e-money payments will account for more than 25% of global transactions” financial industry and thus increases the value of the transactions that BTC processes on a daily basis.
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