The correlation between avocado and Bitcoin prices has been seen before. Looking at Bitcoin/avocado demographics, millennials may indeed be the key ingredient.
There will be more than 21 million avocados eaten in the next hour in the United States alone. In fact, the US imports over 750 million kg of avocados each year from Mexico. Not to mention the home-grown volume. Most of this is probably smashed onto toast and eaten by Millennials.
So could Millennials be the common factor that unites Bitcoin and avocados? Are these Millennials also the ones pushing up the bitcoin price? According to the demographics of the Bitcoin community provided by CoinDance, maybe so.
57.29% of Bitcoin community engagement comes from the Millennial bracket of 18-34 years old.
Now the US purchases around 75% of its avocados from Mexico, accounting for around 75% of Mexican avocados grown annually. The new tariffs may impact the Millennials’ avocado purchasing power, but it is surely good news for Bitcoin. As we have seen, Trump’s random scattergun approach to diplomacy has driven investors away from the dollar.
