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According to BlockFi co-founder, FOMO will direct crypto adoption in 2022

3 min reading

BlockFi's co-founder believes that high prices, fresh talent, and administrative clarity will generate a fizzing FOMO environment for crypto adoption in 2022.

Flori Marquez, the co-founder of cryptocurrency custodian BlockFi, thinks that in 2022, rising prices, young expertise, and regulatory accuracy will merge to form a bubbling FOMO environment for crypto adoption. Marquez also discussed the development of the industry in 2021 in an interview with Yahoo Finance on Friday.

Crypto has become "more digestible" for the average user, as Marquez says than it was in 2016. She further said that another significant factor of growth in 2022 will be the affluence of expertise in the crypto industry, and also administrative clarity.

The statistics she mentioned build a strong base for growth in 2022. As per BlockFi research, one out of every 10 people intends to give crypto as a gift this year, with adding:

“About two-thirds of Americans prefer to talk about crypto versus if you think about five years ago, only 1% of people had ever traded crypto, and 50% of Americans had never heard of crypto five years ago.”

Internal measures from BlockFi show that the firm is gaining adoption. 75,000 people have signed up for its reward card in its first year of working.

The statistic is "absolutely huge," says Marquez, as most fintech companies expect to look at around 10,000 credit cards during their first year.

The discovery that the "majority of Blockfi's clients–when they receive a BTC reward, they're not selling that for cash" seems to be more exciting for FOMO in 2022.

These analyses indicate wider adoption trends in the crypto industry, notably among younger folks. According to a recent CNBC survey, Millennial millionaires hold crypto. "Hodling" has become popular among BlockFi's clients, with 38% planning to hold and only 6% intending to decrease their crypto exposure in the coming year.

The festive timing of new regulations and fresh talent entering the crypto sector, on the other side, is vital for Marquez. She stated that crypto and fintech have been massive attractions for people seeking to learn something new and advance their careers.

“So I think we’re going to see more talent shifting from other more traditional industries into crypto and the fintech sector. And the last thing that I think we’ll see in 2022 is some regulatory clarity.”

With the price of Bitcoin (BTC) holding stable above $48,000 during the holiday season, a chronic, long-awaited FOMO ambience could direct both prices and adoption in 2022.

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