Home Cryptocurrency News Robinhood first-quarter cryptocurrency traders jump six-fold to 9.5 million

Robinhood first-quarter cryptocurrency traders jump six-fold to 9.5 million

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(Reuters) – On-line brokerage Robinhood stated on Thursday that 9.5 million customers traded cryptocurrency on its platform in the course of the first quarter of 2021, hovering practically six-fold from the earlier quarter.

Cyrptocurrencies are discovering wider acceptance with a rising checklist of companies investing in or holding bitcoin, together with electric-car maker Tesla Inc, BlackRock Inc, the world’s largest asset supervisor, and funds firms Sq. and PayPal.

The value of bitcoin, the world’s greatest cryptocurrency, rose greater than 300% in 2020 and final month hit a document excessive of $61,781.83, however has since come off its highs.

Robinhood presently permits clients to purchase, promote and maintain cryptocurrencies, and had stated it plans to offer clients the flexibility to deposit and withdraw them for transfers to different wallets as nicely.

Reporting by Munsif Vengattil in Bengaluru; Enhancing by Anil D’Silva and Vinay Dwivedi



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