55% of US Investors Interested in Bitcoin

Plus a BTC hash rate drop as Chinese miners switch power sources with the season

Happy Tuesday, Blockfolians

The Lede

This headline grabbing statistic is just one of numerous red meat for the crypto crowd from a new Grayscale report called the ‘Bitcoin Investor Study.’ The number of interested investors was up 19% from last year.

The majority of investors invested in the last month, with the Coronavirus pandemic being reported as a major driver for 63% of respondents.

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The study confirms many of the narratives that we’ve seen swirling this year, as the rampant rise in money printing in response to the pandemic highlighted the uniqueness of bitcoin’s fixed supply.

Over the last couple days, bitcoin has also decoupled from stock prices, which have been falling around reduced consumer confidence and rising COVID-19 numbers.

Seems like quite a setup for something big.

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Highly Relevant Reading


Community Commentary

Marty is right, there is a ton going on here
Search trends are…well…trending

A Really Big Number We Should Be Paying Attention To

10%

That’s the amount bitcoin’s hash rate has dropped as Chinese miners switch power sources for the changing season.


Final Thought

Exactly.