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Retail Traders Are Purchasing Bitcoin From Mainstream Fintech Firms – JPMorgan.

In line with research by strategists at the leading United States investment bank, JPMorgan Chase, retail traders are flocking to purchase Bitcoin [BTC] from mainstream fintech firms.

JPMorgan’s data outlines that retail investors have purchased over 187k Bitcoin this quarter using PayPal and Square.

Retail investors are even out-purchasing institutions, with JPMorgan’s analysts estimating institutions have purchased 173k BTC over the same period of time.

JP Morgan has analyzed fund flows from retail platforms & institutional vehicles like the CME [Chicago Mercantile Exchange,] as announcements from large funds on BTC purchases to reveal its findings.

Senior analyst at Oanda Corp, Ed Moya, attributed the retail activity to social media, the present NFT craze, and stimulus payouts. He added Bloomberg:

“Now, with the Reddit-fueled meme stock craze cooling and novelties like digital artwork setting records, retail traders – some now armed with $1.4k stimulus checks – are taking control.”

He added that while “meme-stock” trading burnt many retail traders, Bitcoin [BTC] has remained overwhelmingly bull run and has been their “bread and butter” within the outbreak.

Brian Vendig, president of MJP Wealth Advisors, suggested retail demand has been driven by FOMO [Fear of Missing Out] following the recent wave of institutional investment into Bitcoin [BTC].

Data from cryptocurrency market aggregator, Glassnode, appears to verify that retail investors have well and truly arrived. Earlier on 15th March, Glassnode outlined an entities net growth spike in 2021 adding:

“This may be a strong indication that new retail investors are entering the ecosystem.”

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