Bitcoin investors tend to have low financial literacy – Bank of Canada research

But they have high social literacy.

They know that people hate and are scared of inflation.

They know that people love and long for something deflationary which makes them rich while they are sitting on a couch without doing any work.

The human history can be summarized as an arms race to make the maximum profit with the minimum effort.

Up until the invention of BTC the record-setter job category in such specialty were the bankers and capital allocators. Allocating other people's money and getting a yield while doing very little physical work or even domain-specific intellectual work.

BTC went above and beyond that using financial engineering in the form of deflation to also remove the need to think about how to allocate capital and default risk. Just put it all in the deflationary thingy and watch the number go up, all while doing nothing!

It's hard to deny it that BTC is now the frontier of the arms race, it remains to be seen if it holds or it's going to implode and the frontier would move back being banking and capital allocation.

Bankers and capital allocators are strangely scared though, they were at the frontier for many centuries and are now running scared and badmouthing people at the frontier after just 5 or 6 years.

Central bankers are getting alarmed and producing their own shitcoins.

There is a large range of financial literacy among Bitcoin holders. I find the vast majority are more aware of inflation and currency debasement than the average person with a 401k.

The world of finance has pretty much detached itself so that this is true for quite many people.

Only recently read about how basically any financial analyst predicting current the economic situation was wrong and no model could fit the developments of even a few years back.