{"id":250,"date":"2014-05-27T08:26:00","date_gmt":"2014-05-27T08:26:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-transaction-volume-paypa\/"},"modified":"2022-03-03T17:42:20","modified_gmt":"2022-03-03T15:42:20","slug":"bitcoin-transaction-volume-paypal","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/bitcoin-transaction-volume-paypal.html","title":{"rendered":"Bitcoin transaction volume soon to surpass PayPal"},"content":{"rendered":"
Bitcoin transactions are on the rise, so much so that the digital currency is now on pace to surpass the e-commerce giant eBay\u2019s flagship service PayPal in terms of the number of US dollar transactions in the near future.<\/i><\/b><\/div>\n
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Image Credit:\u00a0screenmediadaily<\/a><\/em><\/p><\/div>\n<\/div>\n

According to the International Business Times<\/a>, the California-based hedge fund, Laureate Trust<\/a>, believes that bitcoin is soon to become the premier monetary vehicle in how people make transactions to one another no matter where they are in the world. The firm notes that as the daily dollar amount of bitcoin<\/a> transactions now exceed $300 million, the digital currency is quickly making its way towards an increased rate of adoption.<\/div>\n

CEO of Laureate Trust, Peter Tasca, explains:<\/p>\n

\u201cWhenever you have an instrument that trades over 300 million US dollars a day, it must be recognized; the digital currency works, bitcoin has greater volume transactions than Western Union and we anticipate it will overtake PayPal<\/a> later this year.<\/em>\u201d According to Statistic Brain<\/a>, PayPal processes just $315.3 million in transactions everyday, just slightly above the dollar amount of bitcoin\u2019s daily transactions despite the digital currency still remaining at a relatively low percentage rate of consumer and merchant adoption.<\/p>\n

The developer of the first biometrically protected bitcoin payment card, remains heavily leveraged in respect to bitcoin adoption; however, the company\u2019s CEO, Chaya Hendrick, says that bitcoin\u2019s sheer transaction volume will continue to rise at a staggering rate:\u00a0<\/span><\/p>\n

\u201cIn the next one or two years, Bitcoin can surpass the dollar transaction volumes of other established payment companies including Discover, and even American Express, MasterCard, and Visa.\u201d While both Laureate and Hendrick see the number of bitcoin transactions climbing, Laureate, who currently manages a $5 billion hedge fund, predicts that along with increased volumes will come an increase in price, which he expects to be somewhere in the 50% range.<\/p>\n

Increased Adoption<\/h2>\n

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Meanwhile, SecondMarket CEO Barry Silbert, recently explained at the Core Club hosted forum in New York City that bitcoin currently remains in the \u201cearly majority\u201d stage in which he refers to as the \u201cventure capital stage\u201d. However, the CEO and Bitcoin Investment Trust (BIT) founder says that \u201cwe\u2019re probably just a few months away from Wall Street banks starting to trade bitcoin, starting to invest in bitcoin, and starting to create investment products for bitcoin.\u201d<\/p>\n

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While bitcoin becomes an increasing threat to existing payment processors, in an interview with\u00a0EcommerceBytes<\/a>, CEO, John Donahoe, reffered to the digital currency as an exciting, new and emerging technology. \u201cWe think Bitcoin will play a very important role in the future. Exactly how that plays out, and how we can best take advantage of it and enable it with PayPal, that\u2019s something we\u2019re actively considering. It\u2019s on our radar screen,<\/em>\u201d he said.<\/p>\n<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin transactions are on the rise, so much so that the digital currency is now on pace to surpass the e-commerce giant eBay\u2019s flagship service PayPal in terms of the number of US dollar transactions in the near future. According to the International Business Times, the California-based hedge fund, Laureate Trust, believes that bitcoin is […]<\/p>\n","protected":false},"author":1,"featured_media":814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,82,299],"tags":[764,771,975],"yoast_head":"\nBitcoin transaction volume soon to surpass PayPal -<\/title>\n<meta name=\"description\" content=\"Bitcoin is soon to become the premier monetary vehicle in how people make transactions to one another no matter where they are in the world.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/05\/bitcoin-transaction-volume-paypal.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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