• Bitcoin has received increasing attention from investors, the media and regulators due to its rising price and adoption.
• Many black Americans invested in bitcoin during the late 2010s when COVID-19 stimulus checks were distributed.
• The crypto market crash hit black Americans hard, yet many within the community remain determined to seek financial autonomy.
Bitcoin has received growing attention from investors, the media and regulatory authorities as its price rises and adoption develops worldwide. However, relatively little is known about the black investors who have been attracted to it. Whether you are purchasing bitcoin or not, you can learn important lessons from these black Americans and become a more intelligent investor in any field.
The Crypto Bubble
In the late 2010s, a significant number of black Americans began researching Bitcoin with enthusiasm. They saw the promise of its blockchain technology, a distributed ledger that provides an immutable record of transactions. They watched the price movement of bitcoin hitting record highs, which doubtlessly appealed to them as well. Millions of people who had never had much to invest or save suddenly had cash on hand due to COVID-19 stimulus checks, and many chose to put them into bitcoin.
Since then, however, cryptocurrencies have lost more than $2 trillion in value over the last year — causing bitcoin prices to plunge from highs of $69000 reached in November 2021 to around $20K per coin today — leaving many investors with empty pockets. Despite this devastating setback for those who had invested their hard-earned money in cryptocurrency markets, this has not deterred many within the Black community from seeking financial autonomy through digital assets investments.
Addressing Financial Inclusion
Bitcoin naturally holds practical appeal for small-dollar investors from historically marginalized communities who distrust traditional finance since they can purchase BTC on digital platforms without a credit check — something which may prevent them from achieving financial inclusion through other assets like stocks or bonds. In addition, investing in digital currencies affords Black Americans access to global markets without having any geographical restrictions applied by local regulations or national borders often imposed on fiat currency investments such as real estate options or mutual funds investment schemes available at banks or stock exchanges respectively..
The Way Forward
As cryptocurrency markets continue their upswing following this winter season decline — there is still potential for Black Americans looking into making investments into digital currencies as long as they understand how these markets work and what regulations apply both domestically and internationally when trading these assets across different countries’ jurisdictions before committing any funds towards such ventures..