Seeking Alpha
2020-12-03 17:05:24

Bitcoin rally driven by North American buyers as Asia sells - Reuters

The 2017 bull market in crypto seemed very much driven by wave upon wave of retail buying in Asia. This year's move is different, with increased acceptance by large North America buyers - from Microstrategy to Square to PayPal to Paul Tudor Jones to Scott Minerd, and even maybe to BlackRock - buttressing the big run higher.Checking the numbers, Tom Wilson and Alun John at Reuters find weekly net inflows of Bitcoin (BTC-USD) into platforms serving mostly North American users have jumped more than 7,000 times in 2020 to over 216K coins worth more than $3.4B in mid-November.That compares to exchanges serving East Asia, which saw net outflows of 240K coins last month.A tighter regulatory regime in the U.S. has likely played a large role in giving comfort to American investors. In Asia, meanwhile - particularly in China - investors seem a bit cautious about the next exchange blowup, or

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