Gaining more adoption
According to the study, crypto adoption is still at a basis point as only 0.3% of total personal wealth is distributed to this asset. Meanwhile, 25% of people’s money is allocated to stocks, such as shares of private companies.
North Americans are the biggest crypto investors, in the opposite corner are Africans. Averagely, an investor from the African continent holds around $190 worth of crypto.
Despite low adoption rates and the recent market downturn, BSG, Bitget, and Foresight Ventures expect a new wave of users to enter the digital space in the coming years. Comparing this asset class with the growth of the Internet in the 1990s, the entities estimate the number of users is likely to reach 1 billion by 2030.
It is worth noting that professional traders find the crypto industry more attractive than others. Retail investors have allocated about $300 million or 4% of their assets into the field, while institutional investors have allocated 2% of their total portfolio.
“Among institutional investors, hedge funds and venture capital firms are most willing to invest. These players have almost doubled their exposure to $70 billion from the fourth quarter of 2020 to the end of 2021. We expect allocations to continue to rise,” the study says
The study also pointed out some of the largest corporations owning cryptocurrencies, including Tesla and MicroStrategy. However, it is worth mentioning that the electric vehicle giant recently sold 75% of its Bitcoins for over $930 million.
Coinbase CEO has the same forecast
Earlier in May, Brian Armstrong – CEO of Coinbase also predicted that the total number of crypto users globally will rise to 1 billion. Contrary to the aforementioned study, the CEO believes this milestone will be reached in the next 20 years.
Armstrong’s forecast seems to be logical as crypto adoption has been on the rise lately, especially during last year’s bull run. In the first 6 months of 2021, the number of individuals participating in the market doubled, reaching more than 220 million.
Other sources indicated that more than 300 million people are in the field.
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