A recent Bloomberg report spotted a group of researchers who studied the “wealth effect” of cryptocurrencies in the American economy. The researchers identified that the unexpected gains from crypto were not spent on luxury items like Lamborghini, as often narrated on social media. Notably, researchers like Darren Aiello and Noelle Acheson presented the paper to […]
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- In a recent paper, a group of researchers studied the impact of crypto gains on the American economy.
- The study unveils that the crypto gains were not spent on luxurious items but on home purchases, real estate etc.
- Researchers posit that crypto gains cannot be compared to a lottery win or gambling.
A recent Bloomberg report spotted a group of researchers who studied the “wealth effect” of cryptocurrencies in the American economy. The researchers identified that the unexpected gains from crypto were not spent on luxury items like Lamborghini, as often narrated on social media.
Notably, researchers like Darren Aiello and Noelle Acheson presented the paper to the Federal Deposit Insurance Corp. in March. Darren Aiello, Assistant Professor of Finance at Brigham Young University’s Marriott School of Business, asserted that investors spend their gains in a pattern that resembles traditional equity investments. He stated,
“If households tend to treat crypto like gambling, then we would expect them to spend their gains in similar ways as lottery winners do. In contrast, our estimates suggest that household spending out of crypto gains is more like the p…
The post Crypto Gains Are Not Spent on Luxury, Researchers Unveil appeared first on Coin Edition.
