It’s a widespread sentiment for people outside of the crypto community to look at Bitcoin (BTC) prices and conclude that it’s too late to get into crypto. However, a report shows that the industry is still at the beginning phase of the adoption curve.
In a joint report published by Boston Consulting Group, Bitget and Foresight Ventures, data shows that crypto adoption is still very low compared with traditional investment assets. According to BCG, only 0.3% of individual wealth is invested in crypto, which is incomparable with the 25% put into equities.
The report concludes that the shallow investment penetration means there is still a lot of room for more substantial growth and adoption within the crypto industry.
In addition, the report compares the internet’s adoption curve to reach 1 billion users with current cryptocurrency holders and Ethereum addresses with non-zero balances. The report mentions that “There is plenty of growth to come.”
By comparing the data, the researchers predicted that crypto users may reach 1 billion by 2030 if the trendline continues on its course.
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A recent market report by consulting firm Verified Market Research predicted that the nonfungible token (NFT) industry’s value might shoot up to $231 billion in 10 years. According to the report, the sector may continue an annual compound growth rate of 33.7%, with music, film and sports identified as drivers.
On the other hand, a report from McKinsey & Company reported that the Metaverse alone could be valued at $5 trillion in 2030. The international consulting company surveyed consumers and companies across various countries and industries to identify patterns in consumer behavior. According to its findings, e-commerce will be driving the cash flow within the Metaverse, making up to $2.6 trillion in revenue by 2030.