Retail traders have reportedly been finalizing the purchase for significant amounts of BTC via mainstream fintech entities, nominally PayPal and Square.

Specifically, as revealed in insights from strategists at top-tier U.S investment bank, JPMorgan Chase, retail investors have reportedly completed the payment for 187,000 Bitcoin this quarter using PayPal and Square.

The purchasing capacity of retail investors has reportedly surpassed that of institutions, with JPMorgan’s analysts forecasting institutions have bought 173,000 BTC throughout the same timeframe.

JP Morgan has reportedly run analysis on fund flows from retail platforms and institutional vehicles, nominally the Chicago Mercantile Exchange, together with announcements from major funds, regarding BTC purchases, to make its findings public. 

Senior market analyst at Oanda Corp, Ed Moya, reportedly linked the activities from retail entities with social media, the current NFT craze, and stimulus payouts.

“Now, with the Reddit-fueled meme stock craze cooling and novelties such as digital artwork setting records, retail traders — some now armed with $1,400 stimulus checks — are taking control.”

He further noted that despite “meme-stock” trading hitting numerous retail traders heavily, Bitcoin has reportedly been overwhelmingly bullish, and has been their “bread and butter” throughout the pandemic.

Brian Vendig, president of MJP Wealth Advisors, reportedly believed that fear of missing out (FOMO) has been the driving factor for the surge in retail demand, following the recent wave of institutional investment into Bitcoin.