Black, Latino, LGBTQ investors see crypto investments like bitcoin as 'a new path' to wealth and equity
When Hector Martinez learned about cryptocurrencies, the son of Salvadoran immigrants quickly saw their appeal: Marginalized communities could finally build wealth outside institutions that often excluded or exploited them.
Martinez, 28, who works in sales, has invested at least half of his portfolio in bitcoin and other digital currencies.
“There's an incentive to find a new path and explore things to see if there’s a potential benefit for people like us,'' he says. “From my perspective, it’s a long-term investment. I feel a belief in where this industry is going, so it's something I want to make sure I'm a part of.''
Cryptocurrencies have become an investment craze, the stuff of memes, tweets and subreddits as celebrities, athletes and billionaires tout their favorites and pour money into the digital currencies. They are created and traded over a decentralized computer network and have a particular appeal to younger investors.