New Zealanders jump on bitcoin as it hits record levels
The US government shutdown id driving the increase, a crypto fund operator says.
Photo: CFOTO / NurPhoto via AFP
New Zealanders are trading hundreds of millions of dollars worth of bitcoin each month as the price hits record levels.
The bitcoin price has reached a new high, of more than NZ$212,000.
Paul Quickenden, chief commercial officer at Easy Crypto said the total crypto market in New Zealand was worth $700 million to $800m per month and Bitcoin was 40 percent to 50 percent of that.
Rupert Carlyon, founder of Koura, which operates a crypto fund, said the US government shutdown was driving the increase.
“People are nervous about the US government and its inability to control its spending and the implications that this…
