How long will it take for Bitcoin transactions to surpass Visa at $ 727 billion? Only need to halve once

The scale of transactions processed by Bitcoin (BTC) is already equivalent to 1% of the world's GDP, and in each halving cycle, its number is growing at an "magnitude".


According to Willy Woo, a statistician who analyzes data from monitoring resource Coin Metrics, Bitcoin's investment flows are $ 727 billion per year.

Bitcoin processes $ 727 billion in transactions annually

This number accounts for almost 10% of the annual transaction volume of Visa, a global payment processor-Visa processes $ 8.8 trillion in transactions.

Woo concluded: "Bitcoin's investment flow (ie annual investment rate) is currently increasing by an order of magnitude (10 times) every 4 years."

According to statistics, Bitcoin should "catch up" to Visa sometime after the next halving cycle that began in May. As Cointelegraph reports, smaller fiat money payment operators such as PayPal have been phased out-PayPal processed a total of $ 578 billion in 2018.

1E10DDEA237946D9A945DC298C1C0746 Adjusted Bitcoin 1-year transaction volume. Source: Coin Metrics

Woo acknowledges that this Bitcoin data is only an estimate and may include changes between cold wallets held by the exchange, which does not constitute a real transaction. Recurring payments between wallets and multi-hop transactions with multiple steps are not included.

Small wallet hits record high

This impressive statistic from a new high in the number of low-balance bitcoin wallets indicates that more and more private investors are experimenting with this cryptocurrency.

According to Glassnode, there are now more wallets with a balance of 0.01 BTC ($ 101) and 0.1 BTC ($ 1,080) than ever before.


Since 2009, Bitcoin wallets have grown. Source: Glassnode

Nonetheless, in terms of cryptocurrency storage, it has been found that both private and institutional investors prefer convenience over security. Because a recent survey showed that, for example, nine out of ten institutional investors use trusted third parties (such as exchanges) to store their coins.

To make more people aware of the importance of private keys, an industry effort called "Proof of Keys" aims to raise awareness of the importance of private keys in self-owned wallets, but so far It is not yet possible to estimate how many companies have realized that it is only important to own the private key.