Whitey Ford
12-20-2022, 11:45 PM
Black Americans saw crypto as a path to building wealth. Now they're bearing the brunt of its decline.
https://i.ibb.co/yN8kFx8/gibsmuhdatz2.png
Another racist invention of whitey cracking the historic whip of oppression over the backs of the dindu community because racisms!
t's been a difficult last few months for the entire cryptocurrency industry, but Black Americans are among the groups that have been particularly impacted.
As of September 2021, 18% of Black Americans overall had invested in, traded, or used a cryptocurrency, compared to 13% of white Americans, according to a Pew Research poll of over 10,000 US adults.
When it comes to investors, in January an Ariel and Charles Schwab survey of 2,000 Americans found 25% of Black investors owned cryptocurrency, compared to 15% of white investors. In June, a Kansas City Federal Reserve report found Black Americans were more likely to own cryptocurrency than stocks or mutual funds, whereas white Americans were most likely to own stocks.
"We saw the same thing happen with the internet bubble, when we saw many African American first-time investors chasing hot internet stocks," Ariel Investments founder John W. Rogers told The Atlantic. "So many people made so much money over the last seven or eight years, and it is natural to fall into the trap of chasing what worked yesterday."
https://www.msn.com/en-us/money/markets/black-americans-saw-crypto-as-a-path-to-building-wealth-now-they-re-bearing-the-brunt-of-its-decline/ar-AA15v2Au?rc=1&ocid=winp1taskbar&cvid=b37c56b4d9084091abe2bcb06f87fd1d
https://i.ibb.co/yN8kFx8/gibsmuhdatz2.png
Another racist invention of whitey cracking the historic whip of oppression over the backs of the dindu community because racisms!
t's been a difficult last few months for the entire cryptocurrency industry, but Black Americans are among the groups that have been particularly impacted.
As of September 2021, 18% of Black Americans overall had invested in, traded, or used a cryptocurrency, compared to 13% of white Americans, according to a Pew Research poll of over 10,000 US adults.
When it comes to investors, in January an Ariel and Charles Schwab survey of 2,000 Americans found 25% of Black investors owned cryptocurrency, compared to 15% of white investors. In June, a Kansas City Federal Reserve report found Black Americans were more likely to own cryptocurrency than stocks or mutual funds, whereas white Americans were most likely to own stocks.
"We saw the same thing happen with the internet bubble, when we saw many African American first-time investors chasing hot internet stocks," Ariel Investments founder John W. Rogers told The Atlantic. "So many people made so much money over the last seven or eight years, and it is natural to fall into the trap of chasing what worked yesterday."
https://www.msn.com/en-us/money/markets/black-americans-saw-crypto-as-a-path-to-building-wealth-now-they-re-bearing-the-brunt-of-its-decline/ar-AA15v2Au?rc=1&ocid=winp1taskbar&cvid=b37c56b4d9084091abe2bcb06f87fd1d