With increased acceptance of cryptocurrency by retail and institutional investors, the number of cryptocurrency users has been predicted to reach 1 Billion.
This is according to a report published by the Boston Consulting Group(BCG).
The group, in a report published earlier this week, said “If we use the number of cryptocurrency holders as a proxy for Web3 users, and benchmark it against the adoption rate of Internet users in the 1990s, the message is clear: there is plenty of growth to come. While it is difficult to predict if the trendline of crypto adoption continues, the total number of crypto users is likely to reach 1 billion by 2030,”
The report predicted that North America will be the region to lead the rise, as it currently holds the highest investment in the sector.
Africa was also identified as the region with the least investment around the world.
According to the report, despite the recent market meltdown in the cryptocurrency industry, the industry is expected to increase with time.
“The report added that the current adoption rate is slow compared to other investment products like equities, payment technologies, and private equity allocation by institutions.
“Generally, the researchers stressed that the crypto sector is here to stay despite the recent market meltdown, with the top ten assets establishing themselves over the last few years.
“Finally, BCG pointed out that the increasing institutional investment in crypto is another sign of bullish sentiment around the sector.” a report by ‘Finbold’ said.