• After a new daily high for the weekend, Bitcoin now trades at USD 7,153
  • 43% of investors surveyed by Grayscale who were interested in Bitcoin were women
  • TikTok owner is entering into a partnership with China on developing business models for blockchain and artificial intelligence

After fighting to break out, Bitcoin has now slipped a little, although still above yesterday’s low and after recording a higher high than the previous two days. Bitcoin sits tight right now at USD 7,153 around 2:00 pm London time (CoinDesk).

Whatever the price gyrations, Grayscale, a major crypto investment fund, has published a new report that suggests almost half of the investors who professed an interest in Bitcoin turned out to be women. The survey was given to 1,100 United States based investors aged between 25 and 64 years. Carried out in a week’s period from 28 March to 3 April 2019, the respondents had all been personal investors who owned a minimum of USD 10,000 in investable assets and had a household income of at least USD 50,000.

The report, if true, says that up to 43% of investors interested in Bitcoin were women. This throws into questions some of the most widely-held beliefs about the crypto space, including the one stereotype that the typical Bitcoin owner is male. Judging from the online communities active, social media influencers, programmers and coders, and even blockchain and crypto conferences, one wouldn’t be blamed for believing the male dominance in the space to be true. Google Analytics itself backs the fact that 90% of the community engagement for Bitcoin is from males.

Grayscale wrote in its report:

“Bitcoin conversations tend to focus on a predominantly male investor audience, and yet data indicates women have a healthy interest in Bitcoin as well.”

The data also seems to suggest that women are almost as willing as men to take risks with Bitcoin investments, with 56.2% of women comparing to 56.4% of men who see significant growth opportunities in digital currencies. This throws up questions over past wisdom that women were more averse to risk when it came to investment. Similarly, 49.8% of women believe Bitcoin’s finite supply would be a driver for demand and price, compared to 49.9% of men.

Women do seem to trump men in believing that the time is ripe for a Bitcoin investment, though! The survey shows that a bullish 47% of women thought it was the right time to buy, compared to a bearish 39% of men. In addition, 63% of women thought that the ability to buy tiny fractions of Bitcoin was a compelling reason to participate in the space, while only 56% of men thought so.

The even better fact is that 93% of women surveyed said they would be even more open to the idea if there were more educational resources available. Someone should have pointed them to BitcoinNews.com!

Meanwhile, more bullish news is coming out of China, where Bloomberg has reported that ByteDance, who owns major social media app TikTok, is entering into a new joint venture with state-owned Chinese media group Shanghai Dongfang Newspaper to develop business models for blockchain and artificial intelligence (AI).

Launched this week in Jinan, the capital of Shandong province, ByteDance owns a 49% share in the venture with a registered capital of CNY 10 million (USD 1.43 million). TikTok’s estimated 500 million active app users will probably be funneled to this new joint venture, since the video feed in the app is fully managed by an AI algorithm to predict user preferences and deliver content that will fit that.

That is just a speculation, however, since it is yet to be seen how TikTok or ByteDance could benefit from the addition of blockchain, other than transparency and perhaps, an integration of some kind of currency model for its users. It is also suggested that digital media data verification could come into play, given the rise of deepfake style videos generated by AI.

 

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