Almost $300m in bitcoin spent during Black Friday and Cyber Monday frenzy

Bitcoin and money

Bitcoin registered as the 9th biggest payment network worldwide over the biggest ecommerce weekend of the year.

A total of $296 million was spent globally across the bitcoin network on Black Friday and Cyber Monday, according to insight provided by Bitnet.

Bitcoin registered as the 9th biggest payment network worldwide over the biggest ecommerce weekend of the year, finishing only behind the likes of Visa, MasterCard, American Express and PayPal.

Black Friday proved more popular of the two days, with $152M spent compared to $144M on Cyber Monday.

“Like all other payment networks, bitcoin saw a surge in volume over Black Friday and Cyber Monday, with higher than usual payment totals over the two days,” said Akif Khan, VP Solutions Strategy, Bitnet.

“The Bitcoin network handled $296M in two days – that’s impressive when taking into account the currency is only five years old and is still growing with respect to merchant and consumer adoption.”

About Bitnet

Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. Bitnet’s engineering, product, and business development team helped build and manage the world’s largest payment gateway, CyberSource (NASDAQ: CYBS), which was sold to the world’s largest payment network, Visa (NYSE: V), for $2 billion in 2010. Bitnet has offices in San Francisco, California and Belfast, Northern Ireland.

 

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts