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Willy Woo: Bitcoin $727B Annual Investment Flow Can Beat Visa 

Tarulika Jain by Tarulika Jain - 08:01 PM Feb 19, 2020
Willy Woo: Bitcoin $727B Annual Investment Flow Can Beat Visa 

Willy Woo, a statistician who analyzed the data of monitoring resource Coin Metrics, stated that the investment flow of Bitcoin is $727 billion annually. Bitcoin is processing 1% of the total GDP of the world. The number is increasing by an “order of magnitude (10x)” in every cycle of halving. According to Woo, if the volumes of Visa’s payment stagnate, BTC can beat the payment giant within five years.

Visa Vs Bitcoin

As per the latest data, Visa processes $8.8 trillion in transactions worldwide. The volume of transactions is almost 10% of moving far ahead of the 1% of BTC trading volumes.

Bitcoin Halving Event which halves the mining rewards, every four years, is expected to fall in May 2020. As per the trends of previous halving events, bitcoin’s investment flow would accelerate, which can “catch up” with Visa’s volumes in the coming five years.

The popularity of the payment system depends majorly on customer satisfaction. The payment giant Visa offers a highly secured network for transactions but charge a fee on every exchange process. On the contrary, the Bitcoin system operates like peer to peer cash transactions without any centralized authority, but the network does not provide fraud protection. The significant advantage of BTC over Visa is the ease of payment system without any physical card.

Willy Woo asserted that the data for Bitcoin is only an estimate which could vary with various facts depending upon the liquidity of coins. For instance, if the coins move from hot to cold wallet held by exchanges considering the security issues, then the actual transaction volume cannot be estimated.

Acceptance Of Bitcoin 

According to the present statistics, it can be stated that Bitcoin’s transactions are gaining popularity. Analysts reported that private investors are experimenting with digital assets as the bitcoin wallets are gaining traction. But many of the enthusiasts are sceptical about the security of the coins.

Thus, to win the race against the payment system of Visa, BTC needs to overcome a variety of issues, especially that of a secured network.

About The Author
Tarulika Jain

Tarulika JainAn engineering graduate, focussing on latest trends of cryptocurrency. As an economic enthusiast, she likes to read about the changing economies of world.

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