Mostly the whole world is now into the cryptocurrency industry one way or the other, regardless of any bias. On the contrary, the Bank of International Settlements (BIS) states that the literacy level is directly proportional to the investment in cryptocurrency. The more educated one tends to be the more possibilities that he/she will invest in cryptocurrency.
Views of BIS
The Bank of International Settlements (BIS), is an organization or could be said as a cooperative society of many central banks together. It is rather a financial institution providing support to the central banks. Moreover, it could be summed up as the BIS serves as a bank for all the central banks.
The BIS took into research the cryptocurrency market. Accordingly, the study by BIS reveals with the rise in the literacy rate so does the rate of cryptocurrency investment. The rise in education each year brings rise to about 2% in the economy of the financial investment, which is contradicting to nothing but the investments in the cryptocurrency industry.
Moreover, the report states all those who have invested in cryptocurrencies are of a monthly income above the average. In addition, it reveals most of the educated literates have invested in Ethereum (ETH and Ripple (XRP) majorly. Those who have invested in Bitcoin (BTC) are from a mixed and average literacy rate. On the other hand, those who are below average literacy rate are into Litecoin (LTE).
Furthermore, those who are into Ethereum (ETH) and Ripple (XRP) are predominantly wealthy and rich.
Also, the BIS states cryptocurrency is not and can never be a replacement for fiat currencies. However, BIS puts forth, most of the investors from the US are into the crypto industry only for-profit and not due to any other reasons.
Current Market Stats
As of date, the king of all cryptos, the Bitcoin (BTC) now stands at about $35,535.63 owing to an overall increase of 0.05% for the last 24 hours.
The first of the altcoins, the Ethereum (ETH) stands at about $2,335.20, with a rise of about 0.30% which is quite remarkable despite the recent tragic market crash.
The next is the Ripple (XRP), with a pricing market stand of $0.695. Statistically, it confronts a rise of about 0.02% for the past 24 hours.
Seems all the cryptos are waking up from sleep to rise up again stably for the first time after the recent crypto crisis market crash.
Recommended for You
