Bitcoin still dominates total payments on BitPay despite the bear market
BitPay’s vice president of marketing Merrick Theobald told that overall BitPay transactions remained stable despite the market decline, with monthly transactions surging from around 58,000 in 2021 to 67,000 transactions in 2022.
Bitcoin still remains the cryptocurrency most commonly used for transactions on BitPay and makes up more than 50% of all sales on the platform. According to Theobald, that is another evidence that Bitcoin’s payment utility use case — the one originally described by BTC creator Satoshi Nakamoto — is still relevant.