THE HUMBLE LIBERTARIAN

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Saturday, June 8, 2019

Everyone’s Hodling Bitcoin: Only 1.3% of Transactions are Payments in 2019

By: Wes Messamore
CCN


Research by Chainalysis finds that only 1.3% of bitcoin transactions so far in 2019 came from merchants.

The remaining 98.7% of volume is all on the exchanges.

That means almost no one is using bitcoin to buy things.

The bitcoin economy is still mostly about speculation, not a global payments system. The figures are based on data from New York-based blockchain researcher Chainalysis Inc. and are based on the first four months of 2019.

In an email to Bloomberg, Kim Grauer, senior economist at Chainalysis, says:

Read more at CCN.