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Tuesday, June 22, 2021

The number of Dutch investors in bitcoin remains unknown

While 20 cryptocurrency service suppliers are signed up with the Dutch central bank DNB, the amount of people investing in the cryptocurrencies remains yet unknown.

”Registration does not mean a seal of approval. It only means that the providers are not involved in criminal activities, but that is as far as monitoring goes.” said a representative of DNB.

According to both the investors association VEB and financial services authority AFM, the investment in cryptocurrencies in considered to be a ‘hype’ in the Netherlands and everywhere else, but what they don’t know is the amount of people who possess cryptocurrencies.

According to marketing manager at Bitcoin Meesters, Christiaan Jimmink the ”trade volume varies widely between crypto platforms.”

”We did our own research and we estimate that some 700,000 Dutch people invest in bitcoin. We have around 200,000 Dutch clients. Some spend €10, others hundreds of thousands of euros. Our daily trading volume runs into the tens of millions.” further said Jimmink.

The investment in bitcoin is considered as ‘a dark pool’, or as exchanging systems which are not entirely see-through according to the Dutch bank DNB and the VEB.

As stated by the DNB representative, they said that ”we are not advising for or against investment but we do have an opinion. A crypto does not represent anything, it’s not a share in anything. It’s not a loan which is returned with interest.”

On the other hand, the financial services authority AFM mentioned that they are monitoring the progress, but they are also advising the users on the risks of crypto investments.

Because mining bitcoin takes a lot of time and effort, bitcoin services are regarded as debatable.

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