RATE Group | Bitcoin Moves Staggering $8.9 Billion USD in Single Record-Setting Hour
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Bitcoin Moves Staggering $8.9 Billion USD in Single Record-Setting Hour

05 Dec Bitcoin Moves Staggering $8.9 Billion USD in Single Record-Setting Hour

Posted at 12:24h in Cryptocurrency News by

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  • Bitcoin processed $8.9 billion in a single hour, highest in its history.
  • It shows how BTC can grow as an established store of value.
  • VC investors foresee BTC evolving into a major asset due to its ability to transfer value.

In a single hour, the Bitcoin network processed $8.9 billion in transactions. While most of it was change in addresses, it showed a glimpse of how BTC could perform as an established medium of exchange in the long-term.

According to Glassnode co-founder Rafael Schultze-Kraft, it was the highest hourly volume of bitcoin (BTC) in terms of USD in its 11-year history.

Large Transactional Capacity Shows Potential of Bitcoin as Store of Value

Based on on-chain data from Blockchain.com, the total daily USD transaction value of bitcoin…

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