Cryptocurrency

Who is Buying Cryptocurrency in 2020

I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS!

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Crypto Investment Fund Greyscale buys 33% of all BTC mined in the past 90 days, 60,000k BTC, that’s 600 BTC a day.
Also buying 50% of all ETH mined in 2020 coming to hold 1.1% of all the ETH in circulation.

BlackRock

Besides the criminals that the mainstream media like to point out, believe it or not, there are far more legitimate people getting into crypto. In fact, there is an increasing number of the most reputable investment firms, hedge fund managers who have come to the realization that the risk reward profile for cryptocurrencies is so high that it would be foolish not to gain even just a small amount of exposure to this new asset class.

First and foremost, the people who you’ve heard talking about Bitcoin for years now are people who you should pay better attention to what they say. Maybe not for every single thing, but at least remember that they are what we call “early adopters”. They are able to spot potential in something before it gains the approval from the very “in-the-box” thinkers that are always in the news.

Not only can early adopters spot that potential, they recognize the very high risk/reward ratio. A high risk/reward ratio means you don’t have to risk much to see a good potential return on that investment. Bitcoin introduced to the world a brand new asset class, one that is still incredibly small compared to things like the ForEx market, precious metals, real estate, etc. There are benefits for getting in early, but it takes a person willing to not only have a contradictory mindset to go against the crowd, but it also requires the fortitude to put their money where their mouth is.

Ok so we’ve got the criminals, the forward thinking, innovation-supporting early adopters,but who else is investing in crypto in this ever volatile year that is 2020?

One of the biggest public buyers of Bitcoin and Ethereum as of late has been the Cryptocurrency Investment Firm Greyscale. When I say biggest buyers I mean they have purchased 33% of all Bitcoin mined in the past 3 months that’s over 60,000 bitcoin, that’s over 600 bitcoin a day for the past 100 days. Additionally they’ve also bulked up their Ethereum holdings, they’ve purchased 756,539 ETH this year, that’s just short of 50% of the Ethereum that’s been mined so far this year.

Institutional investors like BlackRock are into Bitcoin or at least they kind of are. Blackrock might sound familiar to you as this is the same firm that the U.S. Federal Reserve has hired to manage all of the assets that they are purchasing with all of the newly printed currency their pumping out thanks to that unlimited QE. Talk about a great position to be in, they’ve got the ear of the Fed, to help them invest in what they think is best, and I’m sure they’re also hedging themselves against that unlimited currency printing that the Fed is allowing by investing the the hardest asset that exists today. Well done BlackRock.

Speaking of hedging your investments, you can’t forget the notable hedge fund managers like Raoul Paul and Paul Tudor Jones who have been raising their voices and approval for Bitcoin and some other cryptocurrencies during this time of extreme economic stress and the reactions being taking by central banks around the world. Whether those reactions include unlimited quantitative easing, or currency printing, or negative interest rates in Europe, both of these scenarios should send people screaming for a safe haven. If you’re looking for a hedge against inflation or hyperinflation, both of which are a direct product of unlimited currency printing, look no further than Bitcoin and precious metals. Gold and silver have been long standing hedges for scenarios like this and that certainly lends to the argument for precious metals, but now with the introduction of Bitcoin and it’s proven, hard-coded limited supply, its ability to be transferred instantly across borders, its decentralized and unconfiscatable nature, it’s a whole new way to hedge. Added bonus, you can actually use this cryptocurrency and immediately take advantage of all those beautiful attributes I just listed!