27/07/2022
A report by Boston Consulting Group (BCG) finds that crypto adoption among merchants and financial institutions is increasing, although it continues to grow at a slower pace than traditional financial investment. Crypto accounts for 0.3% of investors’ investments, compared with as much as 25% invested in equities.
The report also suggests that investor participation still has substantial room to grow, while crypto use across industries could expand significantly. The adoption curve compares projected future growth, indicating that the number of cryptocurrency holders and Ethereum users with non-zero balances could reach 1 billion.
The chart compares projected growth, with researchers forecasting that the number of crypto users could reach as many as 1 billion by 2030, assuming users continue to remain active.
The report also details the many companies and organizations involved in crypto adoption. Tesla has purchased digital assets as an investment, while MicroStrategy has acquired crypto as an asset. Companies such as PayPal, Mastercard and Square have also entered the crypto space, particularly in crypto transactions. If merchants and other businesses continue expanding their use and investment in different forms, alongside investment in other Web3 technologies, crypto adoption is likely to increase further in the future.
In addition, research by Verified Market Research forecasts that the NFT industry will grow to $231 billion over the next 10 years, with a compound annual growth rate of 33.7%. The music, film and sports industries are expected to be key growth drivers.
Another study by McKinsey & Company suggests that the Metaverse industry could generate approximately $5 billion in 2030. Positive growth factors include changing consumer behavior, particularly e-commerce, which is expected to drive financial flows through the Metaverse and generate as much as $2.6 trillion in revenue by 2030.
In summary, the report’s discussion of the crypto adoption curve indicates that growing interest in cryptocurrencies, particularly Bitcoin, could support its role as a digital currency capable of hedging against inflation and offering a low correlation with other asset classes. In recent periods, Bitcoin delivered a higher return of 62%, compared with a 29% return for the S&P 500 in 2021. The emergence of trading tools has also provided further support for the wider adoption of crypto.
Source:
https://cointelegraph.com/news/crypto-to-reach-1-billion-users-in-2030-bcg-report
https://dailyhodl.com/2022/07/26/number-of-crypto-users-set-to-hit-1000000000-according-to-new-study-heres-when/