Bitcoin transactions are on the rise, so much so that the digital currency is now on pace to surpass the e-commerce giant eBay’s flagship service PayPal in terms of the number of US dollar transactions in the near future.According to the International Business Times, the California-based hedge fund, Laureate Trust, believes that bitcoin is soon to become the premier monetary vehicle in how people make transactions to one another no matter where they are in the world. The firm notes that as the daily dollar amount of bitcoin transactions now exceed $300 million, the digital currency is quickly making its way towards an increased rate of adoption.CEO of Laureate Trust, Peter Tasca, explains: “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.”According to Statistic Brain, PayPal processes just $315.3 million in transactions everyday, just slightly above the dollar amount of bitcoin’s daily transactions despite the digital currency still remaining at a relatively low percentage rate of consumer and merchant adoption.