TechFlow News — On July 2, the Bank for International Settlements (BIS) released a working paper on cryptocurrencies titled "Distrust or Speculation? The Socioeconomic Drivers of U.S. Cryptocurrency Investment." The report states that, compared to the general population, cryptocurrency investors do not show higher levels of concern regarding the safety of cash or commercial banking services. Moreover, cryptocurrency investors tend to be educated, young internet users whose education levels are generally above average.
Among various cryptocurrencies, owners of ETH (Ethereum) and XRP (Ripple) have the highest income and education levels, followed by investors in BCH (Bitcoin Cash) and BTC (Bitcoin), while LTC (Litecoin) holders are the least educated group. However, the BIS emphasizes that the future of the cryptocurrency industry hinges on whether it can attract new investors and retain existing ones.
