Bitcoin wallet Blockchain will have its biggest month for activity in November thanks to Trump

posted about 2 years ago
The world's biggest bitcoin wallet provider will "pretty easily" have its biggest ever month for activity in November, following a surge in use after Donald Trump's shock election victory in the US.

Peter Smith, the cofounder and CEO of London-based Blockchain, told Business Insider: "We're setting a new record pretty much every day since the election in terms of activity on the platform."

"People are basically hedging against economic instability. It's a worrying time to be holding a lot of British pound or if you're America — people flee to safe haven assets. Bitcoin is one of those. Bloomberg added to its list of safe havens last week actually."

Blockchain employs around 25 people in London but also has offices in Luxembourg and New York. The company is the world's biggest provider of digital wallets for bitcoin, with over 50% market share, and processes over 150,000 transactions a day on average. It has raised over $30 million to date.

Smith declined to give specific numbers on activity, but says: "It'll be the first month where millions and millions of people use us," adding that the day the election result was announced "was the biggest single day increase we've seen in the last year."
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