Have You Seen This BIS Crypto Report?? It's CRAZY!!
🏦What Is The BIS🏦
The BIS describes itself as the ‘bank of central banks’, and it’s purpose is facilitate coordination between the 63 central banks it represents with the goal of maintaining ‘monetary and financial stability’ The BIS is technically owned by the 63 central banks it represents, and it was founded in 1930 to collect and distribute the reparations payments imposed on Germany after World War 1
🐂What Caused The 2021 Bull Run🐂
According to the BIS, the bull run we saw earlier this year was caused by Robinhood’s halting of GameStop trading in late January They believe that all those disgruntled traders on WallStreetBets decided to move their money into crypto after being cut off by their dopamine dealer
💰How Many Americans Hold Crypto💰
The second finding in the BIS study is that only 1.4% of Americans hold cryptocurrency, and this statistic seems to be completely off A study by New York Digital Investment Group in May suggests that nearly 20% of the US population holds Bitcoin. According to Nasdaq, NYDIG’s study used the same standards as the US Census Bureau
🤝Trust In The Current Financial System🤝
People who use digital payments and people who invest into cryptocurrency have about the same level of trust of the current financial system. As seen in the brief data summary earlier in the study, Americans believe the current financial system scores about 3/5 in terms of security for cash and bank payments – 60% trusting
📚Crypto Holder Characteristics📚
Cryptocurrency holders are more educated than the general population on average, with most having 3-4 years of post-secondary XRP and Ethereum holders are the most educated, with both having more than a bachelor degree’s The BIS study also divides cryptocurrency holders by income, and a similar pattern is present there as well. The interesting thing is that Litecoin holders seem to be pretty well off despite their lack luster academic credentials
✊How Many Crypto HODLers Are There✊
The fifth finding in the BIS study is probably the most significant, and that’s that the majority of cryptocurrency investors become long term HODLers
👫Cryptocurrency Gender Gap👫
According to the BIS, about 75% of cryptocurrency investors are men, whereas only about 25% of them are women, even though they have similar levels of knowledge. This is because women are more risk averse investors than men ⚖BIS Crypto Policy Proposals⚖ The BIS argues that cryptocurrencies are not seen as currencies by investors and are ‘niche digital speculation’ objects. Because of that, they should be heavily regulated The BIS also seems to imply that proof of work cryptocurrencies in particular need to be heavily regulated. They also want total surveillance of transactions.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.