Bitcoin Did It! BTC Beats Visa By Processing Over $2.4 Trillion Transactions In 2018
A Twitter user called @Coinnoisseur has recently tweeted that Bitcoin has processed over $7.4 trillion USD until today and that, in 2018 alone, the token was able to process over $2.4 trillion USD until now. According to the Twitter user, this is more than Visa, which processes $1.3 trillion USD per year.
With over $2.4 trillion sent in 2018, #bitcoin now processes more transaction value than Visa ($1.3 trillion/year).
Despite the recent bear market, over $200 billion in value is sent per month using BTC. pic.twitter.com/1g0cDPmleG
— 🇵🇷 Bitcoin Papi 🇩🇴 (@Coinnoisseur) September 16, 2018
This shows that, despite the current bear market that Bitcoin is facing along with all the other cryptos, the token is definitely growing in usage and value recently, which can lead to very interesting outcomes for investors.
Problems With The Allegation
However, two important points should be noted before one starts saying that Bitcoin has been moving more money than Visa this year.
The first point is that another user called @kerooke has affirmed that Visa actually processed over $5 and $10 trillion USD per year. The original poster actually recognized this later.
The second relevant aspect to consider is that a lot of the money used in Bitcoin is used for trading only while Visa is more widely used for financial transactions.