Date uploaded: 2021-08-13 16:50:28
Who is buying the bulk of cryptocurrencies? Black, Latino and LGBTQ investors for this key reason. ⬇️
Marginalized communities could finally build wealth outside institutions that often excluded or exploited them.
While only 11% of white Americans report owning cryptos, 23% of Black Americans and 17% of Hispanic Americans own such assets, according to data from Harris Poll given exclusively to USA TODAY.
Marginalized communities tend to worry they will lose money because they've experienced bias and unfair treatment, says professor of finance Yosef Bonaparte. But for groups that have experienced discrimination, currencies that are freely exchanged and not backed by a single government appear more equitable, experts say.
“From my perspective, it’s a long-term investment. I feel a belief in where this industry is going, so it's something I want to make sure I'm a part of," said Hector Martinez, the son Salvadoran immigrants.
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