The interest of American investors in Bitcoin, the leading cryptocurrency on the market, is increasingly noticeable. To date, Bitcoin occupies second place among the most viewed assets in the United States.
According to data from the platform Trading View, Bitcoin has seen a 60% growth in views on the asset this year, ranking #2 as one of the most viewed assets within the United States.
Experts believe that much of this interest may be due to the recent adoption of Bitcoin by the investment and business company. microstrategy, which invested a total of $250 million for the acquisition of 21.454 BTC. It is estimated that the company's initiative to invest 50% of its cash hoard in the cryptocurrency is driving big investors into the crypto ecosystem, as well as boosting the value of Bitcoin to new highs. This action shows that the cryptocurrency represents a safe asset for the safe haven of value.
On the other hand, the renowned and famous investor Warren Buffett He also made a significant investment to purchase a gold mining facility, a fact that many in the crypto community believe will help boost the value of Bitcoin and, given the current flexibility of investors towards gold, there is also the possibility that he will adopt Bitcoin in the not too distant future. Likewise, with the growing interest of investors in the cryptocurrency, the entire community is looking forward to seeing the adoption of Bitcoin on Wall Street very soon.
It may interest you: MicroStrategy acquired more than $250 million worth of Bitcoin
Bitcoin's visibility grows while that of other assets falls significantly
Trading View points out that US West Coast states such as Washington, California, and Oregon have a strong inclination towards Bitcoin. The report even claims that this part of the country is “The one who loves cryptocurrencies the most”, while investor interest in the shares of other companies has been affected by the pandemic and the current economic crisis.
Although the actions of Tesla have been strengthened, the actions of Apple and the airline Boeing are suffering from falling numbers of views from investors. Trading View notes that despite Apple being the largest publicly traded company, it failed to achieve any significant position in any of the states within the country, while Boeing, which occupied a privileged place in the interest of investors, now occupies the third position.
“What was particularly interesting was that the largest publicly traded company, Apple, failed to make it to the top of the most-watched stocks in any state… For now, the data clearly shows that Tesla and Bitcoin are the two assets that everyone is watching most often.”
There is no doubt that investors are looking for alternative and safe market options to protect themselves from the serious economic problems that the current crisis is causing; and Bitcoin, which is experiencing an incredible recovery in its value after the Black Thursday crash, is becoming one of the most prominent, outstanding and attractive assets for investors.
Are government stimulus measures driving Bitcoin adoption?
In previous months, when the COVID-19 pandemic was just beginning, the United States government issued more than $2,2 billion in stimulus checks to help and protect the neediest families; although such money printing subsequently leads to the depreciation of the currency. The stimulus checks were issued for an amount of $1,200 USD per family, and by then, several exchanges Major exchanges began reporting an increase in the number of deposits being made for exactly this amount. Hundreds of people began depositing $1.200 USD to buy bitcoins, leading exchanges to boast that several of the American families who had received the aid were investing their stimulus money in the cryptocurrency.
Now, with a second wave of stimulus on the way, and a new devaluation of the dollar, experts believe that companies, investors, wealthy families, individuals, among others, are investing in Bitcoin as a way to protect and preserve their funds.
At the time of this publication, Bitcoin has a value of $12.270 USD per unit and a market capitalization of more than $226,5 billion, equaling the capitalization of Bank of America for August 10.
Continue reading: Americans purchase cryptocurrencies with their stimulus checks
