Bitcoin’s 2019 USD transaction volume ($3.8T) nearly surpassed the entire internet’s USD digital tx vol. ($4.1T)

posted 3 months ago
The USD transaction volume of Bitcoin in 2019 was 3.8 trillion USD. Simultaneously, all of the digital payment methods on the Internet denominated in USD combined = $4.1 trillion. Therefore, Bitcoin almost tied the USD volume of the rest of the Internet in 2019. Bitcoin’s USD value transferred could exceed the Internet in 2020.

@woonomic tweeted “Bitcoin pertains to investment velocity while the Internet is payment velocity. Quite different, Bitcoin is currently a store of value, so investment is more important.”

It can be argued that most Bitcoin transactions involve investments rather than purchases of goods and services, but the fact remains that Bitcoin’s USD transaction volume is almost on par with the USD volume of all other digital fiat payment methods combined. It’s worth noting, China’s currency, the Yuan, had the most volume at YUAN/USD equivalent of $40 trillion.
Tags: opinion, news, blockchain, bitcoin