The outflow of funds from cryptocurrency products for large professional investors continues. In the last week, the equivalent of $62 million was withdrawn from there.
Overall, this is the seventh consecutive minus for a total of $329 million - here's the chart from CoinShares. So the mood of crypto investors is clearly not the best right now.
BY DEFI WORLD
n the U.S. people generally use Bitcoin as an alternative investment, helping diversify a portfolio apart from stocks and bonds. You can also use Bitcoin to make purchases, but the number of vendors that accept the cryptocurrency is still limited. Big companies that accept Bitcoin include Overstock, AT&T and Twitch. You may also find that some small local retailers or certain websites take Bitcoin, but you’ll have to do some digging. That said, PayPal has announced that it will enable cryptocurrency as a funding source for purchases this year, financing purchases by automatically converting crypto holdings to fiat currency for users. “They have 346 million users and they’re connected to 26 million merchants,” says Spencer Montgomery, founder of Uinta Crypto Consulting. “It’s huge.”
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