BIS publishes database on bitcoin adopters

Evidence suggests speculation is key motive for holding bitcoin


The Bank for International Settlements has published a new database on bitcoin adoption, using the data to shed light on who is buying the crypto asset and why.

A working paper and accompanying dataset set out the findings, based on downloads of crypto exchange apps in 95 countries from 2015–2022.

Authors Raphael Auer, Giulio Cornelli, Sebastian Doerr, Jon Frost and Leonardo Gambacorta find the leading factor drawing in new users is the price of bitcoin.

“The price of bitcoin remains the most

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