Bitcoin transaction volume compared to U.S. GDP
Bitcoin transaction volume compared to U.S. GDP

Bitcoin transaction volume compared to U.S. GDP

This year, bitcoin’s transaction volume will surpass the U.S. GDP. Cryptocurrency has transformed from an investment asset into an alternative to the traditional economy.

 

Bitcoin transaction volume compared to U.S. GDP
This year, the transaction volume of the bitcoin network will surpass the U.S. GDP. The cryptocurrency has turned from an investment asset into an alternative to the traditional economy.

Bitcoin transaction volume compared to U.S. GDP
The volume of transactions conducted in the BTC network for the first 7 months of the year amounted to $15.8 trillion. This is 70% of the current GDP of the world’s largest economy – the United States. Also, the volume of transactions exceeds the gross product of the country, which was confirmed in 2010 and 2011, and that is $ 15 and $ 15.5 trillion.

Experts of Bitcoin Magazine noted the fact and added: since December the volume of transfers remains unchanged, which indicates a stable demand from investors to the cryptocurrency despite the volatility.

But why could the volume of transactions in the BTC network of the sample year 2021 exceed the U.S. GDP? The explanation is that digital currency has become not just an alternative means of investment, but also an alternative to the dollar and the entire established financial system.

The actions of the officials themselves, in various ways, are also contributing to this. Thus, the mayor of Jackson, Scott Conger (Scott Conger) said that bitcoin serves as a protection against inflation of traditional money. And the Federal Reserve refused to register an increase in the M1 and M2 money supply after fixing its expansion at 450% a year.

 

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