Crypto investment on the rise

Crypto is as attractive investment as ever, for average people as well as institutions or public companies.

While dollar/euro printing machines go brrrrr, more and more people turn to crypto. A recent Gallup survey revealed that 6% of American investors (adults with over $10k in stocks, bonds and funds) now have Bitcoin in their portfolio, compared to only 2% in 2018. Unsurprisingly, among investors aged under 50 this number is much higher (13%) than among those over 50 (3%).

Moreover, the perception of Bitcoin has changed as well: less people consider it “very risky” than before. Enthusiastic institutional investors and public companies like Tesla buying crypto have definitely reassured people that at this stage of adoption Bitcoin won’t go to 0.

Even the most refractory crypto sceptics now get into it, like JPMorgan, which, after its CEO called Bitcoin a “fraud” in 2017, is now offering 5 crypto funds to its retail clients. Mr Dimon himself still says that he’s not a Bitcoin supporter, but you know… crypto has this disruptive quality that calls into question so many lifelong precepts that some people just cannot let go.

Elon Musk, on the contrary, is someone who himself been crashing the existing status quo for many years and he gets Bitcoin very well ($1.5 Bn well, to be precise). However, his environmental image got in the way recently, when he stopped accepting Bitcoin for Tesla cars due to its alleged carbon footprint. He may have reconsidered this, as some Chinese miners who still used coal were forced to stop, and green mining trend is getting ever stronger. This week Mr Musk acknowledged this by saying “”It looks like Bitcoin is shifting more toward renewables”. We might expect some news from Tesla soon.