Bitcoin adoption continues

2 min video looking at the continued adoption of cryptosIn the last year, the value of cryptocurrencies as an asset class has more than doubled from $203billion to over £500billion, with the price of BTC increasing from approximately $7,000 to over $17,000. According to research, there are now over 100 million Bitcoin wallets, with the number of wallets active each day being typically 1million and the number of wallets holding 100+ Bitcoins reaching over 16,000 in October 2020. However, possibly more interesting is that the ownership or use of crypto is global, as reported by Statista, with citizens from Nigeria, Vietnam, South Africa, Turkey, Peru, Spain, and China being more engaged with this asset class than in the US.How common is crypto? % of respondents who own or use cryptoSource: Statista.comInterestingly, it is not only individual citizens who are increasingly turning to cryptocurrencies but institutional asset managers too, with Coinbase reporting that its institutional clients have increased their crypto holding from $6billion to $14billion since April 2020. Firms such as Pendal Group in Australia claim to be investing in Bitcoin as an alternative to gold. Highly regarded investors are singing Bitcoin’s praises, including Paul Tudor Jones, Bill Miller, and Stan Druckenmille. The latest institution to express an interest is Guggenheim Partners, which manages over $275 billion and has filed documentation with the SEC to potentially invest $500 million into Bitcoin. Indeed the CEO of PayPal claiming that Digital currencies are: “use of digital currencies is set to go mainstream as more merchants take a ‘digital first’ approach to payments.”As with any investment, unless you have a crystal ball, knowing when to buy any asset is difficult to predict, so an alternative way is to save a regular amount each month. This concept of regular savings (sometimes referred to as pound…