Home News FOMO will drive crypto adoption in 2022, says BlockFi co-founder

FOMO will drive crypto adoption in 2022, says BlockFi co-founder

1313
0

Upward price action, new talent, and regulatory clarification, according to Flori Marquez, co-founder of cryptocurrency custodian BlockFi, will combine in 2022 to create a boiling FOMO environment for crypto adoption. Marquez also expressed his predictions for industry growth in 2021 in an interview with Yahoo Finance on Friday.

Cryptocurrency has become “more digestible” for the typical customer, according to Marquez, compared to 2016. Other important growth drivers in 2022, according to her, will be the influx of highly skilled professionals and regulatory certainty.

The figures she cited indicate that growth in 2022 will be positive. According to BlockFi study, one out of every ten persons intends to give cryptocurrency as a gift this holiday season, with the following elaboration:

“About two-thirds of Americans prefer to discuss cryptocurrency. But only 1% of people had ever traded cryptocurrency five years ago. And 50% of Americans had never heard of cryptocurrency.”

The statistic is “extremely tremendous”

Internal BlockFi indicators also point to growing use. 75,000 people signed up for the card in its first year of existence. The statistic is “extremely tremendous”, according to Marquez. “Since most fintech startups expect to see approximately 10,000 credit cards in their first year”.

The fact that the “majority of Blockfi’s clients, when they earn a BTC reward, they’re not selling that for cash” will be more interesting for FOMO in 2022.

These findings reflect broader crypto adoption trends, particularly among the younger generation. Crypto is currently owned by 83% of Millennial millionaires, according to a recent CNBC survey. BlockFi’s clients are “hodling”, with 38% planning to hold and only 6% planning to minimise their crypto exposure this year.

More talents migrate to crypto

The festive timing of new regulations and fresh talent entering the crypto industry, on the other hand, is critical for Marquez. People who want to learn something new and advance their careers attracted to crypto and fintech, according to her.

“As a result, I believe we’ll see more talent migrate to crypto and the fintech sector from other more traditional industries. Finally, I believe we will get regulatory certainty in 2022.”

A deep-seated, long-awaited FOMO atmosphere might drive both prices and adoption in 2022. When families join together throughout the holiday season with Bitcoin’s (BTC) price maintaining firmly above $48,000.

Previous articleCrypto salaries are becoming a popular way to attract young talent
Next articleBlockchain startup sues Brian Armstrong for allegedly stealing its work