AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Data sourced by CivicScience shows 23 percent of respondents said they or someone they know have sold stocks or bonds to then invest that money in digital currency
- Iceland has had to deal with an energy shortage, with Iceland’s largest utility, Landvirkjun being forced to limit energy supplies to its customers with the highest consumption
- Altcoin Terra (LUNA) has moved into the top ten cryptos by market cap after rising in price to US$67.73 as a classic bull structure suggests to some that it could hit US$100 in the coming weeks.
Poll Reveals More Investors Going to Crypto
More and more people are buying out of stock to reinvest into crypto according to a US survey. Data sourced by CivicScience shows 23 percent of respondents said they or someone they know have sold stocks or bonds to then invest that money in digital currency.
Nearly two thousand responses were collected between November 29 and December 6, which showed 76 percent of respondents saying they are more likely to invest in traditional stocks or bonds with 24 percent preferring to invest in cryptocurrency.
While that might seem like a large discrepancy, it’s considerably less than a corresponding poll taken in June 2021, which showed traditional stocks being favoured by 90 percent of respondents with 10 percent supporting cryptocurrency.
Moreover, 7 percent of respondents said they have sold stocks or bonds in order to purchase crypto with 16 percent saying they know someone who has done the same.
The remaining 77 percent claimed they either haven’t made any such investment decisions or know someone who has.
Iceland Bitcoin Mining Woes
Bitcoin mining continues to suffer issues as Iceland turned away Bitcoin miners due to the high energy consumption of the practice.
Iceland had to deal with an energy shortage, with Iceland’s largest utility, Landvirkjun being forced to limit energy supplies to its customers with the highest consumption. Given the considerable power required to mine Bitcoin, they, and other crypto mining companies have been the worst affected.
The utility said that the cut was effective immediately as of Tuesday.
Bitcoin’s mining issues have been well publicised after Tesla founder and billionaire, Elon Musk, who earlier this year called out the practice of Bitcoin mining as being a big consumer of fossil fuels. Musk’s comments came shortly after he announced his electric vehicle company, Tesla, would stop accepting Bitcoin as payment for the vehicles.
The price of Bitcoin has risen slightly in the past 24 hours by 0.62 percent to reach US$48,086. It’s been a tough week, though, for the world’s top crypto dropping from US$56,670 – a drop of over US$12,000.
Altcoin News
Altcoin Terra (LUNA) has moved into the top ten cryptos by market cap after rising in price to US$67.73 as a classic bull structure suggests to some that it could hit US$100 in the coming weeks.
Terra has a current market cap of US$21.91 billion.
Winners and Losers
Note: The following is from the 24-hour period from 12:30pm (AEST).
Source: Coinmarketcap.com, based on top 100 cryptos.
Image Source @ 2021 Kalkine Media
