Blockchain analysis firm Chainalysis has predicted that the use of Bitcoin on the dark web will reach over $1 billion in 2019, hitting a new record.
Initially reported by Bloomberg, the blockchain surveillance startup has revealed that so far this year, around $515 million has been spent in illegal online marketplaces. This is in purchasing a variety of goods and services including child porn, banned substances and stole credit card information.
Per Chainalysis, this is already higher than the total amount that was spent on the dark net in 2014 and 2015. At the current pace, the amount of bitcoin spent on the dark web will eclipse 2018 and 2017. In 2017, Bitcoin worth $0.87 billion was spent on the dark web. This was the highest amount ever spent in one year.