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The head of the Luno crypto exchange: 90% of the Bitcoin turnover is speculations

Luno cryptocurrency exchange CEO Markus Swanepoel said that most users of his site use bitcoin as a tool for investment and speculation. Payment transactions make up only a small fraction of the options for using cryptocurrency.

In a CNBC interview, Swanepoel said that a small portion of users buy bitcoin only when they plan to use it for transactions. Meanwhile, almost all are either investors or speculators.

“About 90% I would classify as speculative investment. These may be people who have long-term intentions or people who simply love to trade. Only 10% of this volume is made up of simple transactions, ”Swanepoel said.

He also believes that when managing investment portfolios it makes sense to invest at least a small part of the money in cryptocurrency. He believes that although the risk is high, the potential income level is astronomical.

Recently, Nelson Minier, head of Kraken cryptocurrency exchange OTC sales, compared today's cryptocurrency trading industry with his first days on Wall Street, adding that it’s too early to call Bitcoin a safe haven for investors.


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