May 25, 2014 2:15 PM

Bitcoin set to overtake PayPal in 2014

Bitcoin to overtake PayPal in 2014.

The Laureate Trust has announced, via a press release to The Digital Journal, that they expect Bitcoin to pass PayPal in USD transaction volume later this year. The Trust has pointed out that Bitcoin is fast establishing itself as the currency of choice for international internet purchases and payments. Bitcoin has now reached a transaction volume of $300 Million, per day.
The Laureate Trust sees the current Bitcoin price, now circa US$530-560, as a tremendous opportunity to buy into Bitcoin, they advise that the currency could increase by up to 50 percent in price in the near-term as it prepares, for the first time,  to overtake PayPal in actual transaction volume.
[dropcap size=small]P[/dropcap]eter Tasca, the CEO of The Laureat Trust, States:
“Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized. The digital currency works, Bitcoin has greater volume transactions than Western Union and we anticipate it will overtake PayPal later this year.”
He went on to say:
“We’ve seen governments all over the world impose restrictions on the currency and that is good. In a free market economy this creates a safe trading environment and reduces the volatility Bitcoin holders have experienced in the last six months. This digital currency was meant to facilitate the exchange of currency to be spent, not traded.”
Tasca says that the collapse of Mt Gox, from a theft, or possibly a misplacement, of almost half a Billion dollars worth of bitcoins, has created new opportunities for digital trading companies. These new companies are better regulated, better financed and are technologically stronger. Tasca expects that Bitcoin will continue to stabilize in value. He sees the introduction of, a digital custodian offering a secure network architecture audited by a national cyber-security firm, as a huge stabilizing factor. He also states that he expects to see more companies like Circle enter this market. Very positive for Bitcoin stability although possibly not so positive for PayPal.
“ has some very large backers and we expect them to continue to make tremendous progress in utilization of Bitcoin. I expect in the next 2-3 years we will have the option to have a Bitcoin debit card which is a tremendous opportunity for Globally debit cards account for nearly 30% of all spending, the consumer wants to remove bank processing and currency exchange fees and right now is offering the consumer an easy way to use Bitcoin without the risk that is currently associated with the digital currency.”
Laureate Trust is a company that can claim to provide expert portfolio management that achieves optimal results.  Their proven trading strategies are based on four principles:  diversification, technical analysis, trend following and risk management. They believe that these factors combined have the potential to maximise profit from any economic situation. This disciplined approach with trading strategies have returned a 10-year average of +31.6% per year.  In 2013, they state that this multiple platform strategy returned +23.01%, net of all fees. This has outperformed the Barron’s Top 100 Hedge Fund Average, Barclay hedge Fund Index Average and the S&P 500 Total Return Average.
In 2014, Laureate launched a Referral Fee Programme that will pay 2% of the initial deposit and then a management fee for the life of the account. “We want our partners to benefit from every bit of success they help us generate” said Tasca.
For a company as established in the area of investments as Laureate Trust, to regard Bitcoin so highly, as an investment, may well be an indication of Wall Street preparing to come on board in a major fashion.  Perhaps PayPal is merely moving towards incorporating Bitcoin because they simply understand that they cannot ignore the winds of change.
Laureate Trust states that they are a global leader in mutual fund management. Using seasoned professionals, relying on almost a century of expertise to develop and replicate trading strategies, they claim to have the ability to profit in a rising or falling market.  They claim that this profit potential makes market neutral funds particularly attractive to investors in volatile or uncertain times.
Featured image by Shutterstock.

PJ Delaney @P.J. Delaney@delboyir

Masters in Public Administration, Bachelors in Mgt., I live in Ireland, I have a bit of a background in Economics and lots of opinions on everything else.