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Most Bitcoin owners are holding; only 1.3pc payment transactions

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Research reveals that in the year 2019, above ninety percent (98.7%) Bitcoin transactions are contributed by exchanges and the remaining 1.3% from merchants.

The transactions in Bitcoin comes not from investors, but also from other sources. A blockchain intelligence firm “Chainanlysis” revealed some shocking news about the BTC transactions.

The adoption of Bitcoin is increasing, but people are still not utilizing this coin to buy an asset. Its involvement in payment system around the globe is still negligible, and most people just hold Bitcoin.

The analyst, Kim Grauer, elaborated that exchange trading has a dominance in the market, and the Bitcoin purchases is a myth and fantasy. In contrast to paper money, which is being used every day, the people secure Bitcoin and are reluctant to use them for daily operations.

The U.S. dollar owing to its regulations by Federal Reserve lose around three percent (3%) each year. The Bitcoin has reserved twenty-one million Bitcoins (21m BTC), and their supply is also fixed.

With the rapid expansion of crypto-world and massive adoption of Bitcoin by the people, the fluctuations in the market can also be decreased.

This will increase the chances of Bitcoin to be largely used by the people as a normal currency. But, recently this is a prediction and speculation.

There are certain loopholes that must be filled first, and the regulation will be strengthened. Once the crypto-market will be stabilized, and there would be less volatility, people start using this coin for everyday use.  

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Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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