Data spanning 95 countries from 2015 to 2022 indicates the vast majority of app downloads occurred when Bitcoin’s price was above $20,000, theThe analysis says if we assume each new user bought $100 of Bitcoin in the month they installed the app and each month thereafter, 81% would have lost money.
The study raises “questions about the implications of greater crypto adoption for the economy and consumer welfare”, the paper’s authors wrote. Other findings from the BIS – often referred to as the central bankers’ central bank – included that some 40% of app users were men under 35 and that less than 35% of all users globally were female.
Bitcoin reached a high of almost $69,000 in November last year at the height of the pandemic-era speculative frenzy for digital coins stoked by ultra-low interest rates and stimulus cheques. The world’s largest token has since plunged 75%, pressured by rapidly tightening monetary policy and a series of huge blow ups at crypto outfits, most recently Sam Bankman-Fried’s
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin investment narrative fraysThe idea that Bitcoin can form a worthwhile part of a diversified portfolio of risk assets is fraying among institutional investors.
Source: mybroadband - 🏆 11. / 67 Read more »
International Finance: Asian equities led higher by China on policy moves: markets wrapAsian equities advanced on Monday with a tailwind from the biggest weekly gain in US stocks since June and China’s policy shifts on Covid curbs and the property sector.
Source: dailymaverick - 🏆 3. / 84 Read more »
International Finance: World-beating India stocks cement haven status with new recordHaving emerged as a safe haven amid this year’s global equity rout, Indian stocks look poised to extend their lead over world peers and finish 2022 on a high.
Source: dailymaverick - 🏆 3. / 84 Read more »
International Finance: FTX latest: balance-sheet blow-up reverberates in crypto marketsCryptocurrency prices slid again, particularly tokens associated with Sam Bankman-Fried’s collapsed FTX empire. There were growing signs that customers of the bankrupt digital-asset exchange have little chance of recovering much of their deposits. The FTX thief stole $1 billion from his customers and donated $100 million to DNC 1. Democrats approved tens of billions in military aid to Ukraine. 2. Ukraine then parked the money into FTX. 3. FTX sent those money as 'donations' back to the Democrats Rinse and repeat.
Source: dailymaverick - 🏆 3. / 84 Read more »