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Bitcoin surpassed 13.1 trillion USD in 2021

Bitcoin surpassed 13.1 trillion USD in 2021

According to a study published by Ark Invest, Total Transaction Value (TTV) on Bitcoin surpassed 13.1 trillion USD in 2021. The TTV is almost three trillion more than traditional payment processor Visa, which saw 10.4 trillion in transaction value.

  • Ark Invest is a tech-focused investment firm led by Cathie Woods. It prefers more risk on assets like Tesla, Coinbase, and Bitcoin. It saw record returns in 2020 but has since struggled with macroeconomic concerns leading to risk-off assets.

  • The Total Transaction Value is derived from the overall volume of the network. Meaning, that any buy or sell on Bitcoin is reflected in this metric. Visa transactions tend to handle smaller transactions in terms of value than Bitcoin.

  • The TTV for Bitcoin is almost 6 times higher than it was in 2020 when the protocol saw 2.3 trillion USD in transactions.

  • The study also found that 1.5% of Bitcoin’s circulating supply is tokenized and “wrapped” on Ethereum. Ark Invest believes Bitcoin can continue to scale thanks “to features and functionality not available on the Bitcoin network.”

  • Bitcoin is struggling after a hot start to April that saw the world’s biggest cryptocurrency hit $46,000 USD. It’s currently trading in the $37,600 range.

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