Earlier in the cryptocurrency saga, experts contrasted Bitcoin with the payment system VISA. Concerns were raised about throughput limitations and turnover, as the world’s largest platform was built over decades. However, Bitcoin managed to surpass its financial competitor in a different parameter.
Bitcoin surpasses VISA’s market capitalization
In early December, the cryptocurrency demonstrated unprecedented growth, reaching a psychological barrier of $20,000 on Asian exchanges. The desire to own Bitcoin prompted people to buy the currency, making investments. As a result, with a market value of $275 billion, Bitcoin overtook VISA, which has a capitalization of $252 billion.
Additionally, the cryptocurrency processes half a billion transactions daily, whereas VISA transactions do not exceed $150 million. However, experts warn about the unreliability of Bitcoin’s capitalization, citing the risk of loss. The exchange rate of this new global currency changes spontaneously, and no financial expert will predict its growth or decline. Moreover, since mid-December 2017, the US has launched Bitcoin futures, which could shake the virtual currency that is not backed by gold.
