All articles tagged with #crypto adoption
The article discusses how Coinbase's market dominance is threatened as former President Trump’s support for cryptocurrencies attracts new entrants into the space, potentially shifting the competitive landscape.
Most Americans avoid investing in crypto due to a lack of understanding about how it works, with 90% of non-owners citing insufficient knowledge as the main barrier, despite the industry's growth and regulatory developments.
According to a report by Henley & Partners, there are 88,200 crypto millionaires and 182 centi-millionaires worldwide, with 22 individuals holding crypto assets worth at least $1 billion. Of these, six billionaires and 78 centi-millionaires have investments in Bitcoin. The report also highlights that 425 million people globally have some form of cryptocurrency holdings. Additionally, Henley & Partners developed a Crypto Adoption Index, with Singapore ranking first, followed by Switzerland and the United Arab Emirates. The index considers factors such as public adoption, regulatory environment, taxation, infrastructure, innovation, and economic factors related to crypto usage.
Argentina's annual inflation rate has surpassed 100%, reaching a 30-year high. Bitcoin has appreciated against the Argentine Peso by 20% over the past year, despite posting a 34% drop against US dollars over the same period. Due to its fixed supply, Bitcoin is often regarded as a long-term inflation hedge, and countries facing troublesome inflation, such as Argentina, Nigeria, and Turkey, have relatively high crypto adoption rates. Meanwhile, central banks overseeing relatively stable currencies argue that Bitcoin is not an inflation hedge due to its volatility.