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Many advisors may have an interest in bitcoin, if not from an investing perspective, then at least from student-of-the markets perspective. With that in mind, we wanted to share a chart we found in Bloomberg today. The chart shows where the major growth in bitcoin trading has been this year. In other words, the regions that really drove the wild gains the cryptocurrency has seen this year. The top four countries are China, Nigeria, Colombia, and Venezuela. The idea is that countries which strict money controls, or less stable political and currency environments see more attraction to bitcoin.
FINSUM : The bitcoin rally has really been a product of emerging markets, which is a key factor for understanding its potential durability. We think this supports the idea that bitcoin may be able to maintain its price for some time.
- bitcoin
- emerging markets
- safehaven
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
