According to Satoshi Nakamoto’s white paper, Bitcoin is a payment method primarily, but this did not stop it to demonstrate handsome profitability.
Thus, according to the CEO of the online journal Block Journal, under the nickname Crypto Godfather, Bitcoin has significantly exceeded even the most successful investments in leading companies since 2010.
2010 to 2019
— Crypto Godfather (@CryptoGodfatha) August 28, 2019
Note, that Bitcoin price data has been available since March 2010. That time the existing trading platform BitcoinMarket.com was launched and the first cryptocurrency cost about $ 0.003. According to the publication the growth amounted to 338,433,233% ever since.
For comparison, the same indicator of the online advertising giant The Trade Desk is 1,317% only.
At the same time, the author of the chart indicates somewhat different indicators of profitability – 10,000,000%. This, however, does not detract from them at all.
Note, that the analytical service CoinMarketCap has been tracking price changes in Bitcoin since April 2013. The growth of Bitcoin is 7,420% since that date. And if we consider the data from the minimum of BitcoinMarket.com to the historical maximum recorded in December 2017 this figure is 666 666 567%.
Bitcoin and PayPal Rally in Transaction Volume
Against the background of the Bitcoin negative movement, Jason William, co-founder and partner of Morgan Creek Capital Management, recalled one feature of asset statistics. Despite the criticism of the main cryptocurrency by regulators, Bitcoin surpassed the completely legal PayPal in annual transaction volume by $ 1.3 trillion. A persistent upward trend in transaction volume has been observed since 2013
Bitcoin surpassed PayPal in yearly transaction volume at $1.3 Trillion. pic.twitter.com/TdKb2UdYTa
— Jason A. Williams 🦍 (@JWilliamsFstmed) August 27, 2019
At the same time, only $578.65 billion processed through PayPal.
Note that PayPal and Discover are one of the largest payment systems.
Nevertheless, people are interested in Bitcoin due to the low cost of cross-border transactions. Besides, a significant volume was carried out thanks to the activity of BTC traders.
It is unclear how many people use Bitcoin for money transfers, especially when traders use the same asset for speculation. But we can see that if a Pay Pal is focused on payment and money transfer only, Bitcoin is a multi-faceted asset. Unfortunately, even such positive factors did not save Bitcoin from a rapid fall in 2018. However, the situation has improved significantly nowadays.
Traditional wire transfers have also become more common over the past 7 years. PayPal transaction volume during this period increased from $150,07 to $578 billion. Some analysts predict the continuation of this trend in the coming years.
However, even some officials of the World Bank consider the fees are too high for ordinary transactions of traditional financial institutions. According to them, increasing competition in this space will be useful for customers with a limited budget.