Understanding crypto bag holders and their mindset By Cointelegraph

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Understanding crypto bag holders and their mindset

Published Feb 12, 2023 06:10AM ET Updated Feb 13, 2023 08:40AM ET

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Understanding crypto bag holders and their mindset

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For the first time in centuries, paper money, or fiat, found its true competition in the internet era. When Bitcoin (BTC) debuted in 2009, the fiat ecosystem was not only challenged with proving its worth in day-to-day transactions but also safekeeping the investment ecosystem it helped build.

Over the years, the crypto ecosystem attracted people from all walks of life, serving their unique financial needs while filling the gaps left wide open by the fiat ecosystem. While most of the world watched from the sidelines — trying to decipher the true potential of cryptocurrencies — the first batch of Bitcoin millionaires swayed investors’ attention toward the budding ecosystem.

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