Swiss financial giant Bank for International Settlements (BIS) analyzed the individual crypto trend. The analysis shows that 40% of individual crypto app users are men under 35.
Swiss Bank BIS Says Majority of Individual Investors in Bitcoin Are Losing Money
According to Bank for International Settlements, a study of how individual investors use cryptocurrency exchange apps shows that nearly three-quarters lose money in Bitcoin.
Data covering 95 countries from 2015 to 2022 shows that the vast majority of app downloads occurred when the price of Bitcoin (BTC) was above $20,000, according to the Basel, Switzerland-based BIS study report.
The analysis says that assuming each new user purchased $100 in Bitcoin the month they installed the app and every month thereafter, 81% would have lost money.
The authors of the paper note that the study raises “questions about the effects of greater adoption of cryptocurrencies on the economy and consumer welfare.”
Other findings from the BIS, referred to as the central bank of central banks, include that around 40% of app users are men under the age of 35, with less than 35% of all users globally being women.
Bitcoin hit $69,000 in November last year at the height of the pandemic-era speculative frenzy for digital currencies fueled by low interest rates and stimulus checks.
The world’s largest cryptocurrency has since lost 75%, spurred by a rapidly tightening monetary policy and a series of major crashes at crypto companies, most recently Sam Bankman-Fried’s FTX exchange.
*Not investment advice.
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