Bitcoin Tops Visa in Transaction Volume: Sygnum

Bitcoin (BTC) has now processed more transaction volume than Visa, according to Sygnum, a digital asset bank.

In a recent report, Sygnum said Bitcoin’s network now handles an estimated $20 trillion in annual transaction volume, surpassing Visa’s $13 trillion. Visa is one of the largest global payment networks, with total assets reaching $93 billion at the end of March 2025, per Macrotrends.

This comes as the world’s largest cryptocurrency by market capitalization reached a new all-time high of $123,000 last week, fueled by surging institutional demand. Currently, BTC is changing hands at $119,000, up 20% over the past month, with a market cap of nearly $2.4 trillion, according to CoinGecko.

“Bitcoin’s rally is being driven by strong fundamentals; institutional accumulation through ETFs, growing government-level exposure, as well as increasing strategic treasury allocations, are all contributing to a tightening supply environment,” said Martin Burgherr, Sygnum’s Chief Client Officer.

The growth signifies that Bitcoin is evolving beyond “digital gold,” with Sygnum highlighting its role as a financial tool that offers advantages over gold and fiat assets in terms of scarcity, security, and settlement.

“With greater regulatory clarity emerging — particularly through the GENIUS and CLARITY Acts — we’re seeing renewed confidence among long-term investors,” Burgherr said. “Bitcoin’s narrative as digital gold continues to strengthen, and its dominance reflects a deepening conviction in its role as a macro hedge.”

On July 17, the U.S. House of Representatives passed the GENIUS, CLARITY, and Anti-CBDC Surveillance State Acts. The next day, President Donald Trump signed the GENIUS Act into law.

BTC on Exchanges Drops to 7-Year Low

The report also highlights other key trends, such as Bitcoin’s liquid supply on exchanges dropping to a near seven-year low as exchange-traded funds (ETFs) now hold over $150 billion in BTC and public companies hold another $80 billion.

Meanwhile, around 45% of Bitcoin’s total supply has remained dormant for three years or more, indicating “long-term conviction and low speculative churn among holders.” The report also found that Bitcoin consumes just 0.5% of global electricity, far less than artificial intelligence (A.I.) and data centers.

Sygnum’s report comes as major companies – including Visa – step up their crypto efforts. The company is currently exploring integrating stablecoins and blockchain technology into its payment network to enhance efficiency and expand payment options.

Earlier today, Visa’s Head of Crypto, Cuy Sheffield, emphasized in a post on X (formerly Twitter) that stablecoins are currently enabling high-value transfers, business-to-business payments, and cross-border payments within the blockchain ecosystem.

“That’s why we believe stablecoin-linked cards are carving a clear path forward, making Visa the acceptance network for stablecoins,” he wrote. “If you hold stablecoins, you can spend at any merchant that accepts Visa. The merchant doesn’t need to change a thing.”