Bitcoin Network Transaction Volume Surpasses American Express: Research
Industry News
According to a new study, the yearly transaction volume on the Bitcoin network exceeded that of some well-known card networks in 2021, including American Express (AmEx) and Discover.
According to the study published on Saturday by NYDIG Research Weekly, Bitcoin handled $3 trillion in payments in 2021, putting it above American Express ($1.3 trillion) and Discover ($0.5 trillion) credit card networks.
The authors of the paper, NYDIG global head of research Greg Cipolaro and research analyst Ethan Kochav, also discovered that in Q1 2021, the Bitcoin network handled more transaction volume than “all credit card networks combined for the whole year.”
“This is incredible growth for a payment network that just celebrated its 13th birthday,” they stated. The first American Express card was issued in 1958, while the first Discover card was created in 1985.
“This is incredible growth for a payment network that just celebrated its 13th birthday,” they stated. The first American Express card was issued in 1958, while the first Discover card was created in 1985.
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