Wall Street Investment Bank Report: Cryptocurrencies Boost US Luxury Consumption

Wall Street investment firm Jefferies just announced that cryptocurrencies have created a new generation of luxury consumers in the United States.

The difference between rich and poor has never been clearer in America. The gap between rich and poor has been evident over the past decade, but now inflation is at an all time high and problems are dividing the American gap between rich and poor.

But thanks to cryptocurrencies, that seems to be changing. China is still the top consumer of goods, according to the report. However, the United States has been stronger over the past four months, which could have an effect on the popularity of cryptocurrencies, especially among young people.

The report noted that TVN purchases were on the rise, mainly by young people. Many teens in their twenties are buying NFTs and other cryptocurrency devices for friends and relatives this holiday season. For some, the days of delivering cookies and skateboards will be over, and now they see crypto as a new way to deliver rich and sustainable products.

Although NFTs vary in price, they are often considered a reliable investment because they are tokens connected to physical objects such as works of art.

The analysts who wrote the report, Flavio Cereda and Kathryn Parker, said: “In addition to the natural impact caused by the so-called 'demand for restriction' ... cryptocurrency wealth has increased the volume total cash This can offset 20-25% of our sales (last 12 months).

The report also notes that luxury spending is back to its highest level since 2019. 2020 marks the end of the emergence of a new disease, with spending falling. By 2023, US spending on luxury goods could represent up to 45% of US spending.

"There is controversy because it relies heavily on asset swapping to get it money, but at least there is no risk from higher governments like China." , indicates the report.