Bitcoin now settles Visa-scale volumes, but most is for wholesale, not coffee
Bitcoin's 90-day settlement volume rivals Visa and Mastercard, but most activity is wholesale, not retail spending.Summary
According to a Glassnode report, Bitcoin's 90-day settlement volume has reached $6.9 trillion, matching or exceeding the combined volumes of Visa and Mastercard ($6.88 trillion). However, when stripping out internal address transfers, Bitcoin's "economic" settlement drops significantly to about $7.8 billion daily, which is far less than Visa's $39.7 billion daily average transaction volume, most of which is consumer retail spending. Bitcoin's volume is primarily driven by trading, remittances, and store-of-value investment, as global merchant adoption remains very low compared to card networks. Additionally, stablecoins are moving $225 billion daily, but Glassnode notes that about 70% of this transfer volume in Q3 2025 was linked to automated trading bots rather than organic activity.
(Source：Cointelegraph)