Since the emergence of Bitcoin (BTC) into the digital space, the digital currency has been praised as a decentralized, optimize version of MasterCard, Visa and the like. Bitcoin (BTC) came into the space back in 2009, and it was headed by the anonymous Satoshi Nakamoto.
There has been an argument over the years that “Bitcoin (BTC) is a digital gold.” While the narrative is yet to change over the years, a lot of people believe that the first blockchain network in the world could still seize centralized networks with enough development, research, and more importantly, time.
In Off The Chain’s recent edition, it was explained that Bitcoin (BTC) could soon start making a move to the ecosystems of centralized payments. Off The Chain is a digital currency-focused newsletter and podcast that is run by an open skeptic of banks and founder of Morgan Creek Digital Assets – Anthony Pompliano.
Pompliano said that the blockchain itself needs to be spotlighted, dubbed the “the most secure payment layer in the world,” instead of just Bitcoin (BTC) itself. While the leading digital currency investor makes it clear that it is very difficult to value payment ecosystems, due to the fact that network value concept is usually abstract and still developing, Pompliano did all he could to draw attention to the strong, but lesser-known basic measures of Bitcoin.
The founder of Morgan Creek also jested that he would not be surprised if Bitcoin (BTC) started making a move on MasterCard and Visa. This move might only be made more noticeable as scaling solutions such as the Lightning Network, while the fundamentals of Bitcoin (BTC) continue to beat that of its altcoin rivals.
The Market Cap of Bitcoin (BTC) May Outperform MasterCard and Visa
Making reference to a recent data from Diar – a top digital currency research and publication unit – Pompliano said that the miners of Bitcoin (BTC) received a total of $5.8 billion (fiat equivalent of Bitcoin produced) in revenue last year.
Although these are not exact figure due to the decline of BTC and other caveats, the crypto investor noted that this sum would help the status of Bitcoin (BTC) in the world of payment. The bank skeptic later compiled and analyzed fundamental financial data from MasterCard, Visa, Western Union, Square, and two top social media platforms to convey a point.
He also said that from the point of view of a revenue multiple, Bitcoin (BTC) is more undervalued than both MasterCard and Visa. MasterCard and Visa are the two most common payment platforms compared to Bitcoin (BTC).
Pomp explained that although Bitcoin (BTC) is not supposed to be valued by revenue multiple, this gives context to the underlying performance of blockchain and the pseudo-inherent value.
Putting all these into consideration, Pompliano said that he would not be surprised if BTC, presently 1/6th the market cap of Visa and 1/4th the market cap of MasterCard, started to surpass the valuations given to conventional payment networks in the next three years.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, Bitcoin (BTC) is trading at $3,689 after a decrease of less than one percent over the past twenty-four hours. The digital currency currently has a market cap of $62.92 billion and a trading volume of $3.0 billion over the past twenty-four hours.