The payment utility use case for Bitcoin is still relevant as it remains the dominant crypto for payments on BitPay despite the ongoing crypto winter.
) remains a major payment tool despite huge volatility, according to data from BitPay.
The sales volumes of Bitcoin-based payments on BitPay accounted for as much as 87% last year and dropped to 52% in the first quarter of 2022 amid the bear market, BitPay’s vice president of marketing Merrick Theobald told Cointelegraph. In contrast to the number of transactions, Bitcoin sales volumes on BitPay are associated with the total value of crypto payments processed in Bitcoin.
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