Bitcoin Matches Visa in $6.9 Trillion Settlements

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Bitcoin Matches Visa in $6.9 Trillion Settlements, Says Glassnode

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 04, 2025

Key Takeaways

Bitcoin settled about $6.9 trillion in 90 days, which nearly matches Visa and Mastercard’s combined payment volume;
After removing internal transfers, Bitcoin’s true “economic” activity is around $870 billion per quarter;
Bitcoin’s volume mostly comes from trading and remittances, not retail spending, as few merchants accept it.

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Bitcoin Matches Visa in $6.9 Trillion Settlements, Says Glassnode

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Glassnode reported that Bitcoin’s BTC $93,276.42 transaction network has reached payment volumes close to the biggest card companies.

In its Q4 2025 analysis, the blockchain data firm found that Bitcoin settled about $6.9 trillion in value over the last 90 days.

During that same period, Visa processed $4.25 trillion, and Mastercard handled $2.63 trillion, a combined total of $6.88 trillion, which is nearly equal to Bitcoin’s figure.

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Still, much of Bitcoin’s activity is not tied to real-world spending. Many transfers occur between addresses managed by the same organization, so they do not represent actual payments.

After adjusting for these internal movements, Glassnode estimates Bitcoin’s “economic” settlement at around $870 billion per quarter, or roughly $7.8 billion per day. Despite this smaller figure, the firm said Bitcoin continues to grow as a global system for clearing transactions between both institutions and individuals.

Traditional payment companies process much higher daily volumes of consumer spending. Visa averages about $39.7 billion in daily transactions, and Mastercard about $26.2 billion, mostly from everyday purchases such as groceries, online orders, and utilities.

Bitcoin’s use is more concentrated in trading, international transfers, and investment storage rather than in retail.

Glassnode also noted that more financial activity is moving “off-chain” into exchange-traded funds (ETFs) and broker platforms, though Bitcoin and stablecoins remain dominant for direct blockchain settlements.

Recently, Glassnode shared that holders transferring their Bitcoin to exchanges is typical of a maturing market. How? Read the full story.