Name: How American investors are buying bitcoin
Uploaded: 2020-12-03T18:26:44.000Z
Duration: 1 min 47 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Bitcoin has grabbed headlines this week with its dizzying ascent to an all time high.

Yet under the radar, a trend has been playing out that could change the face of the crypto currency market.

A massive flow of coin to North America from East Asia.

Bitcoin, the biggest and original crypto currency, soared to a record $19,918 on Tuesday.

It was driven by demand from investors who see the virtual currency as a so called risk on asset onda hedge against inflation.

Thes investors also see crypto currencies as a payment method, which is gaining mainstream acceptance.

But the boom represents a shift in the market, which has typically been dominated by investors in East Asian nations like China, Japan and South Korea.

But it's the North American investors who've seen the bigger winners in the 165% rally this year.

Weekly net inflows of Bitcoin, a proxy for new buyers to platforms serving mostly North American users, have jumped over 7000 times this year.

Data compiled for Reuters shows that that Bitcoin worth around $3.4 billion East Asian exchanges, have lost out those serving investors in the region bled.

240,000 Bitcoin were $3.8 billion last month, according to Reuters interviews.

The change is being driven by an increasing appetite for Bitcoin among bigger US investors, who are attracted by a tightening oversight of the American crypto industry.

S exchanges are, in general more tightly regulated than many of those in East Asia.

 On there have been several moves by American regulators and law enforcement agencies this year to clarify how Bitcoin is overseen. 