Coinbase Says That 60% of Its Bitcoin Buyers Go Into Altcoins

Major cryptoasset exchange Coinbase claims that although most of its users initially favor bitcoin (BTC), the vast majority also go on to trade altcoins and other digital assets.

In a blog post, the platform claimed,

“Among customers with at least five purchases, 60% start with bitcoin but just 24% stick exclusively to BTC.”

It means that 60% of BTC buyers on Coinbase are going into altcoins eventually.

In total, it claims that “over three quarters” of its customers “eventually buy other assets” – namely altcoins. Furthermore, Coinbase says its customers “trade non-BTC assets at a roughly 3% higher rate than their relative market caps would suggest.”

Bitcoin’s market capitalization dominance (almost 67% today) has been all but unchallenged since its inception, but Coinbase’s claims would appear to indicate that for some people BTC is a gateway to further investment, with altcoins growing in popularity.

The blog’s…