From theregister.com
Somewhere between 73 and 81 percent of retail Bitcoin buyers are likely to have lost money on their investment, according to research published Monday by the Bank of International Settlements (BIS).
The Switzerland-based bank for other central banks wanted to understand why retail investors continue to participate in cryptocurrency exchanges to trade tokens like Bitcoin. It’s a mystery, given that people don’t generally use cryptocurrencies to make payments, to measure value, or to finance real-world investments.
BIS published its findings in a working paper titled “Crypto trading and Bitcoin prices: evidence from a new database of retail adoption.”