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Everyone’s Hodling Bitcoin: Only 1.3% of Transactions are Payments in 2019

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By CCN: Research by Chainalysis finds that only 1.3% of bitcoin transactions so far in 2019 came from merchants. The remaining 98.7% of volume is all on the exchanges. That means almost no one is using bitcoin to buy things. The bitcoin economy is still mostly about speculation, not a global payments system. The figures are based on data from New York-based blockchain researcher Chainalysis Inc. and are based on the first four months of 2019. In an email to Bloomberg, Kim Grauer, senior economist at Chainalysis, says: “Bitcoin economic activity continues to be dominated by exchange trading. This suggests

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* First published on ccn.com

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