Spotlight Growth
No Result
View All Result
Wednesday, February 1, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Cryptocurrency

Increasing Number of Canadians Hold Bitcoin as an Investment, According to Bank of Canada Survey

by admin
August 3, 2018
in Cryptocurrency
0
Bitcoin Canada Investment Bank of Canada Survey News

Bitcoin Canada Investment Bank of Canada Survey News

In a recently released survey, the Bank of Canada showed that public perception of Bitcoin is shifting. In the most recent survey, a solid majority of Canadian Bitcoin owners bought the cryptocurrency as an investment. This is in stark contrast to previous iterations that viewed the cryptocurrency as a means for transactions. Overall, 58% of respondents stated they purchased Bitcoin for an investment – up from 12% the prior year. This is a considerable increase with wide ranging implications. The study goes on to say that the number of Bitcoin owners increased from 2.9 to 5% – nearly doubling over the course of a year.

The Bank of Canada study is a fairly progressive project aimed at understanding the Canadian public’s use of the cryptocurrency – as well as their knowledge. As a regulatory body, the Bank of Canada is responsible for much of the information provided to lawmakers. Their relatively light regulations and consistency have allowed Canada to become a major blockchain hub.

Canada and Cryptocurrency

Unlike their neighbor to the south, Canada’s laws are much more consistent across province borders. Rather than attempting to comply with a makeshift conglomerate of state’s laws within the US, companies can focus on adhering to the much clearer Canadian regulations. As a result, teams like Ethereum finds greater freedom in Canada – with founder Vitalik Buterin living in Toronto.

Further, the infrastructure is highly suited to both development and mining of cryptocurrencies. The province of Quebec produces some of the cheapest electricity in the world – making the area a hotbed of cryptocurrency mining farms. However, this boon may be in peril – the sheer number of mining operations resulted in higher electricity costs for everyone in the area. Locals are not thrilled about this turn events, and pressure is on to limit new expansion.

Transitioning Perceptions across the Market

The shifting viewpoint on Bitcoin is not a solely Canadian mindset. Throughout the entire cryptocurrency market, investors are looking at Bitcoin as a store of value. Much like gold in traditional assets, Bitcoin sets the standard for the rest of the industry. The transaction infrastructure is insufficient for use as an everyday currency – with late 2017’s traffic slowdowns indicative of this. While the Lightning Network team is making great strides in off-chain channels to alleviate this problem, it does not stop the perception shift itself.

Instead, investors are looking to a variety of altcoins for their transaction needs. Many of the top cryptocurrencies by market cap tout better speeds and more reliable infrastructure, despite much lower average value. Bitcoin’s place may be as the legacy blockchain and a market health indicator. Other projects seem poised to take the role of chief digital currency.

Article By: Adam Stone

Tags: altcoinsbankBank of CanadaBitcoinblockchainCanadacommon stockcryptocrypto maniaCryptocurrencycryptoinvestingcryptonewscryptotraderdigital assetsdigital currencydigital goldemerging growthenergyEthereumhodlinvestinginvestmentmarket newsnewsSpotlight GrowthSpotlight Growth Stockssurveytrading
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023
Introduction to Stock Options Trading Educational Spotlight Growth

Introduction to Stock Options

January 31, 2023
Oxbridge Re NASDAQ OXBR SurancePlus Tokenized Reinsurance Contracts Spotlight Growth

Oxbridge Re (NASDAQ: OXBR) Announces Its New Subsidiary SurancePlus: To Issue Tokenized Reinsurance Securities

February 1, 2023
ADVERTISEMENT

Recent News

Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested