Chainalysis: only 1.3% of all Bitcoin transactions in 2019 were used to pay for goods or services

Representatives of the research company Chainalysis found out that most of the Bitcoin cryptocurrency transactions are speculative.

The results of the Chainalysis study showed that during the first four months of 2019, only 1.3% of all Bitcoin transactions were made to pay for certain goods or services. Despite the fact that more and more companies offer their customers to use Bitcoin as a new means of payment, most of the transactions with the flagship cryptocurrency fall on exchange trades, whose members want to make a profit in the shortest possible time. The insignificant share of the use of BTC for real payment for goods indicates that the speculative trend in the crypto community continues to gain momentum.

During the first four months of this year, approximately 88% of all Bitcoin transactions were associated with trading platforms. The indicator is still lower than during the last year, then the share of the use of BTC was 92%.

Olga Kharif, a representative of Bloomberg, draws attention to the fact that BTC needs a hype in order to get the approval of the masses and position itself as a worthy alternative to fitan money. Bitcoin, however, in her opinion, is close to the “clerks”, who are in favor of accumulating cryptocurrency, and not using it.

Meanwhile, the day before it became known that the share of using BTC on platforms for over-the-counter trading is increasing. Read more about it here .