BitcoinCointelegraph.comInstitutionsPayPalRetailSquare

Retail traders buying more Bitcoin than institutions: JPMorgan

Retail traders have been buying large amounts of BTC through PayPal and Square.
According to research by strategists at leading U.S investment bank, JPMorgan Chase, retail traders are flocking to buy Bitcoin from mainstream fintech firms.JPMorgan’s data suggests that retail investors have purchased more than 187,000 Bitcoin this quarter using PayPal and Square. Retail investors are even out-buying institutions, with JPMorgan’s analysts estimating institutions have purchased 173,000 BTC over the same period.JP Morgan has analyzed fund flows from retail platforms and institutional vehicles such as the Chicago Mercantile Exchange, as well as announcements from large funds on BTC purchases to inform its findings.Senior market analyst at Oanda Corp, Ed Moya, attributed the retail activity to social media, the current NFT craze, and stimulus payouts. He told Bloomberg:“Now, with the Reddit-fueled meme stock craze cooling and novelties such as digital artwork setting records, retail traders — some now armed with $1,400 stimulus checks — are taking control.”He added that while “meme-stock” trading burnt many retail traders, Bitcoin has remained overwhelmingly bullish and has been their “bread and butter” during the pandemic.Brian Vendig, president of MJP Wealth Advisors, suggested retail demand has been driven by fear of missing out (FOMO) following the recent wave of institutional investment into Bitcoin.Data from crypto market aggregator, Glassnode, appears to confirm that retail investors have well and truly arrived. On March 15, Glassnode noted an entities net growth spike in 2021 adding: “This is a strong indication that new retail investors …
Story continues on Cointelegraph

Related posts
2017 bull marketCaseBitcoinCointelegraph.comdoubling time

Bitcoin's price doubled in 75 days — How long until the next 100% leg up?

Historical analysis suggests that the amount of time it takes for the Bitcoin price to double may accelerate during this bull run. The price of Bitcoin has doubled in the past 75 days, prompting some analysts to question whether the…
BitcoinBitcoin.combridgewater associatesCryptocurrenciesEconomicsInflationteslaTreasury BondsU.S stimulusu.s. congressU.S. Federal Reserve

Hedge Fund Manager Says Sell-off in US Treasury Bonds a Threat to ‘High-Flying Assets’ Like BTC

Hedge fund manager Bob Prince has warned that the recent sell-off in the U.S. government bond market could accelerate and this could “threaten high-flying assets” like cryptocurrencies and blank cheque companies. Prince, who is the co-CIO at Bridgewater Associates, links…
ArtArtistsCointelegraph.comNFT

Nifty News: Ja Rule’s Fyre Fest NFT, Trump tweet auction, Tron and Tezos muscle in

Nifty News is a round-up of all the NFT news that’s fit to print. Today: Ja Rule flogs Fyre Festival painting, dance moves are tokenized, and a new record price recorded for licensed NFT sports memorabilia. The latest celebrity to…