According to some, the world of Bitcoin and Cryptocurrencies, in general, is dominated by men. And, they are saying that this can be problematic.
Men Take More Risks
A cryptocurrency is a form of digital money that can be exchanged between investors or used to buy goods, all without the control of big banks or governments. But, that is where the risk is. It can be difficult to identify who is investing in this type of market knowing that when we invest in it, for many it is above all because they can operate under anonymity.
Now, surveys are showing that women are very poorly represented on the market. According to Google Analytics, 96.57% of cryptocurrency investors are men. After seeing this statistic, Ducan Stewart, a researcher at Deloitte Canada’s tech department, can’t help but raise a red flag. He says “It’s not really the fact that value has risen so high and as fast as it did, it’s mostly the fact that the market is dominated by 97% of men. That’s an alarming sign.”
Stewart has defended his point of view by saying that he “can’t think of one single currency, action, or security asset in history that shows such an unequal and long-lasting distribution”.
According to a study, when it comes to investing, women take less risk. In other words, if women are not getting involved, it’s probably because an idea is too risky.
The comprehensive study of the gender gap shows that women who invest, whether with their personal finances or on behalf of a company, take a far more cautious approach. However, in the long run, they also tend to perform much better than men.
Stewart says that he saw this same situation during the dot.com boom in the early 2000s. At the time, he was a well-known business manage on Bay Street. At the time, women fund managers accounted for about 20% of the number of investors on the market. Back then, women had been carefully avoiding the tech markets while men were investing heavily in it. Steward remembers well how many made fun of women who did not jump in with as much fervor as the men. But that only lasted until the men started losing money. And a lot of it. “Maybe, they saw it more clearly than men at the time…” says Stewart.
Iliana Oris Valiente – One of the Few Women on The Cryptocurrency Market
Ms. Valiente is a rare find in the world of cryptocurrency. She has made a name for herself as one of the few female leaders in the field. In fact, she has just been chosen to lead the Global Blockchain Innovation department for a consulting company called Accenture.
She began her career as an auditor, but she was quickly seduced into the Bitcoin market as soon as she heard of it in 2012.
Valiente says that when she joined the cryptocurrency world, it was truly dominated by men. She says “In 2014, when I started working full time on it, I was often the only woman in the room…”
Although, she does say that things seem to be changing, albeit slowly. She adds “We are starting to see more female leaders in key positions.”
For example, of all ICOs, there are about 13% that are headed by women. “They are truly inspiring and are needed to encourage other women to become more interested in this industry.”
The Bubble Debate Continues
According to Ducan Stewart, it is quite possible to make money during a bubble. “As long as you’re one of those incredibly smart people who buy when the price is low and sell when it goes up.”
That said he believes that if these digital currencies stay on the market, this gap between men and women will disappear on its own. He said “Either it’s a bubble or it’s truly money that people will be able to use to buy products and services. If that’s the case, women will start joining the market. Maybe a little late, but they will come.”