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.
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.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
Highly Relevant Reading
A pro-crypto SEC officer is leaving the organization
JPM Coin is ready for commercial use
India will soon have crypto banking services at 22 physical locations
INX Crypto Exchange to acquire a broker dealer
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.