According to a recent report from NBC, middle-class Americans are growing quite fond of bitcoin and cryptocurrency investment. Bitcoin’s value is continuing to climb and everyday Americans are getting in on the action.
‘In Five to Ten Years, You Could Be Sitting on Something Nice’
Bitcoin has grown very popular in the U.S. and data shows the region is consistently one of the top three countries leading in bitcoin trade volume. According to a recent study from the Cambridge University Business School’s Centre for Alternative Finance, the U.S. is the fourth leading country utilizing bitcoin for payments and as a form of cross-border money transmission. Further, the country has the third largest number of exchanges worldwide, and USD is one of the most widely supported currencies across a majority of global exchanges. This popularity has spread to American ‘mom and pop’ investors spending a few bucks on cryptocurrency investments that are turning out to be extremely lucrative.
The vast amount of infrastructure in the U.S. and this year’s exponential BTC price spike, has led to middle-class Americans learning how to invest in cryptocurrencies. NBC interviewed a school bus driver, Ryan Williams, who used some of his bitcoin holdings to purchase a new pool for his kids. During the hot summer Williams thought he couldn’t afford a pool, but suddenly remembered he had a stash of bitcoin that gained quite a bit of value. Williams purchased the pool at Wal Mart using his Bitpay card, and now his mother and other family members are investing in bitcoin too.
Another 39-year-old ironworker from New Jersey, Greg Salerno, said he put $1,600 into bitcoin a while back, and now his stash is worth $20,000. Salerno tells the publication that he’s also started to talk about cryptocurrency investments to co-workers. “It’s like being in Apple at 10 cents,” Salerno tells NBC. In five to ten years you could be sitting on something nice.
Author: Jamie Redman
Posted By William P. Eason Entrepreneur