Malay Bitcoin News

Kuala Lumpur: During the study period, the price of bitcoin rose from $250 in August 2015 to a peak of nearly $69,000 in November 2022. It is currently trading at around $16,500.

During the same period, the number of people using smartphone apps that allow people to buy and sell cryptocurrencies increased from 119,000 to 32.5 million.

The researchers wrote, “Our analysis suggests that globally, the rise in bitcoin prices is associated with greater entry of retail investors.”

In addition, it was found that “as the price rises and small users buy bitcoin, the largest holders (are) selling – and reaping the rewards at the expense of small users.”

The researchers have no direct data on individual investor gains or losses. However, when new investors started using cryptocurrency trading apps, they were able to make inferences based on the price of bitcoin and a price worth about $20,000 last month.

The study also found that the largest segment of cryptocurrency investors in Malaysia (about 40 percent) are men under the age of 35, who are generally considered the most “risk-seeking” segment of the population.

The researchers found that most cryptocurrency investors view it as a speculative investment, and that young people tend to be more actively involved in trading in the months following a significant rise in the price of bitcoin.

The surge in investors after the price rise should raise concerns about the need for more consumer protection, they said.

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