The Bitcoin network processed 62% more value in dollars than PayPal this year, according to a report by Blockdata. The firm also analyzed the volume transacted in the Mastercard and Visa networks. Although Bitcoin currently lags behind the credit card firms, the report explored possible paths for the peer-to-peer (P2P) network to overtake them.
So far this year, Bitcoin transacted an estimated average of $489 billion per quarter, whereas PayPal amounted to an average of $302 billion. Mastercard and Visa, on the other hand, still lead the pack with $1.8 trillion and $3.2 trillion processed per quarter on average, respectively.