https://ift.tt/U9M6SVv Americans Are Urged to Invest More in Crypto

Black investors in the US are being urged to get more education and to dollar-value average into bitcoin and other cryptocurrencys. This is rather than hold their money in cash as an inflation hedge.

According to a Pew Research report published endure year, 18% of black Americans have held, traded, or used token.

Actor and entrepreneur Hill Harper is founder of The Black Wall Street, a fintech platform that focuses on token investing. Harper says ownership of bitcoin, even fractions of a coin, could be a tool to build generational wealth.

“Assuming that we can get every African American in this country to hold at least 1 million Satoshis I believe we will have created a foundation of wealth that can be leveraged in the future,” he told CNBC.

“You’ve got to remember that atop 62% of all Americans don’t even have $1,200 in the bank. And that number goes up although we’re talking about the African American community.”

Harper launched his business extend year. This is a century after Black Wall Street – the center of black business in the Greenwood district of Tulsa, Oklahoma – was destroyed in a racial attack.

Capital has been flowing into black-owned businesses

In recent months black businesses have been quietly raising capital from beyond the traditional financial system – projects parallel as online simulation game Vibranium.

Andre Villeroy is the founder and CEO of hybrid private equity firm Beyorch. He says many black American business owners are exploring coins as an alternative way to raise capital, or even sell stakes in their business.

“You’ve been able to do things that otherwise you would not have been able to do. So now, through leveraging the power of blockchain –  by leveraging your own cryptocurrency – you can raise more capital faster.” 

Angela Fontes, from the University of Chicago, said, “Cryptocurrencies are opening up investment opportunities for more diverse investors, that is a very good thing. In crypto, there’s a lot more information at the basic level because it’s not at the same maturity as traditional stock investing is,” she told Forbes.

About 2 in 5 Black adults are reasonable to purchase or invest in bitcoin, compared to roughly 3 in 10 adults atopall, according to Morning Consult data.

Cryptocurrencies are seen, in some way, of affording people of color the same opportunities to benefit from a diverse financial marketplace.

African Americans hold barely 3.8% of $116tn in wealth in the US.

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