FOMO to Be a Main Catalyst for Crypto Adoption in 2022, Says BlockFi’s Co-Founder
Flori Marquez – Co-Founder of the cryptocurrency custodian BlockFi – expects FOMO to be the main factor, which will drive digital asset adoption in the next year. She concluded that the other two elements will be the talent shifting from traditional industries to the crypto sector and regulatory clarity.
FOMO Will Be a ‘Huge Driver’
In a recent interview for Yahoo Finance, Flori Marquez – Co-Founder at BlockFi and Senior Vice President of Operations – opined that the digital asset industry has grown to such a level that many people in the USA will experience Fear of Missing Out (FOMO) in 2022. This will become a significant factor for a lot of investors to enter the market for the first time and thus accelerate crypto adoption:
“We’re going to see more consumers across the US enter the space for the first time. And I think a huge driver is going to be FOMO.”
Marquez noted that currently, people are much more open towards bitcoin and altcoins compared to five years ago. For example, she claims 1 in 10 Americans plan to give digital assets this year as a Christmas gift to relatives or friends, while 2/3 prefer to talk about cryptocurrencies.
“And I do think that crypto has become a bit more digestible for the average consumer than it was five years ago.”
Talented People Moving to Crypto
According to Marquez, the second thing that will drive adoption next year is the “talent shifting.” She says the pandemic caused many experts to leave their previous positions and look for more prosperous job opportunities.
BlockFi’s boss believes that cryptocurrency-related companies and fintech firms are attractive options as both fields present long-term solutions:
“And honestly, crypto and fintech have been a huge attractor to people that are looking to learn something new and expand their careers. So I do think that we’re going to see more talent shifting from other more traditional industries into crypto and the fintech sector.”
Regulations Will Be Beneficial
The last thing that could guide crypto’s adoption in the next 12 months is creating and implementing a comprehensive regulatory framework on the industry. Marquez believes that if the US watchdogs manage to solve the issue, investors and companies would feel much more protected to enter the market.
Such is Michael Saylor’s opinion too. Not long ago, MicroStrategy’s CEO stated that clarity in the space would positively affect bitcoin and the alternative coins, while institutional adoption would accelerate shortly after. He concluded that setting proper rules could even decrease BTC’s volatility and raise its popularity among the general public:
“There is a need for clarity. Crypto regulations and clarity in the industry would reduce the volatility in the bitcoin space and increase public confidence in bitcoin.”