The quantitative cryptocurrency hedge fund, Satoshi Capital Research has recently made a bold declaration that “BTC is not just a serious global currency, but a serious global payment system as well.” The Atlanta based hedge fund said on its Twitter page yesterday that the transaction volume of Bitcoin for 2018 was in excess of $3.3 trillion which is six times the transaction number in comparison of PayPal for the same year.

Bitcoin is something more

There are a lot of people in the crypto space hav an always believed that Bitcoin isn’t up to date and that the underlying technology in it is obsolete. There are enthusiasts out there though who still have faith in the digital asset and to them we say, it is only useful as a store of value. If we take a look at Ripple, it is believed to be the ideal cryptocurrency for payments. This viewpoint isn’t entirely wrong as the Ripple payment system is not only cheap but very cheap.

The recent analysis by Satoshi Capital Research suggests otherwise saying that the Bitcoin transaction volume exceeding $3.3 trillion in one year is a sign that it is indeed a major means of payment. Not only this though as the transaction volume from last year was six times that of the payment giant, PayPal.

This alone is a positive indicator that the future for Bitcoin is bullish.

Border control

For Bitcoin and other cryptocurrencies, one of the best things about them is that they don’t have any borders. The leading cryptocurrency is the first asset which has that characteristic which makes it very suitable for transactions without having to face any form of censorship.

Whereas if we take a look at PayPal, there are numerous restrictions. For example, in Africa, there are several countries which are restricted from receiving payments through the system. It is, therefore, not surprising that Bitcoin is taking over PayPal’s customers worldwide.

If we take a look at last year, the statistics show that cryptocurrencies, in general, will take over transactions from some of the big players in the industry in the near future. SWIFT is already being dominated by Ripple and now Bitcoin is on top of PayPal.

What are your thoughts? Let us know what you think down below in the comments!