Digital asset adoption is still in its infancy, according to a joint research by Bitget, Foresight Ventures, and Boston Consulting Group (BCG). According to the entities, if the current pattern holds, there will be one billion bitcoin users worldwide by 2030.
It’s a common belief among non-crypto enthusiasts that it’s too late to invest in cryptocurrencies after seeing Bitcoin (BTC) pricing. The most recent data demonstrates that the market is still in the early stages of the adoption curve.
Crypto Adoption is Getting More Popular
The study finds that adoption of cryptocurrencies is still in its infancy, with barely 0.3 percent of individual wealth being allocated to the asset class. Comparatively, 25% of people’s money is invested in equities like stock in private corporations.
Africans have the opposite tendency to North Americans when it comes to making significant investments in digital assets.
An individual African investor typically has cryptocurrency assets of about $190. BSG, Bitget, and Foresight Ventures anticipate a fresh wave of individuals entering the digital asset world in the upcoming years despite the low adoption rate and the current market slump.
By 2030, there would probably be one billion cryptocurrency users, according to the entities’ calculations, which compared the asset class’ growth to that of the Internet in the 1990s.
Notably, skilled traders find the digital asset market more alluring than other markets. Institutional investors have invested 2% of their whole portfolio, while retail investors have invested $300 million, or 4%, of their wealth in it.
“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 included some of the largest businesses that are cryptocurrency owners, such as Tesla and MicroStrategy. However, it is noteworthy that the world’s largest manufacturer of electric vehicles recently sold 75% of its stockpile of bitcoin for more than $930 million.