NEW YORK—Despite the proliferation of more than 2,000 cryptocurrencies, including harder-to-track privacy coins, the overwhelming majority of criminals still prefer Bitcoin for illicit activity, a new report shows.
Bitcoin, which is currently trading at just under $5,500, accounts for 95% of the cryptocurrency cases law enforcement investigates, according to Jonathan Levin, co-founder and COO of Chainalysis.
“The same reasons that have made Bitcoin, the original cryptocurrency, the top digital coin on the market have also made it criminals' cryptocurrency of choice: It's the most valuable and also has the highest transaction volume of any of its peers, making it easier to trade and spend,” stated Fortune.