FOMO Will Be a Major Driver of Cryptocurrency Adoption in 2022

FOMO Will Be a Major Driver of Cryptocurrency Adoption in 2022

According to BlockFi’s co-founder, FOMO will be a major catalyst for cryptocurrency adoption next year  2022.

Fear of Missing Out, according to Flori Marquez, will be a big stimulus for cryptocurrency adoption in 2022.

FOMO, according to Flori Marquez, Co-Founder of Bitcoin custodian BlockFi, will be the key driver driving digital asset adoption in the coming year. The other two components, according to her, will be talent migration from existing businesses to the crypto sector and regulatory certainty.

The Fear of Missing Out (FOMO) Will Be a “Huge Driver”

Flori Marquez, Co-Founder of BlockFi and Senior Vice President of Operations, recently told Yahoo Finance that the digital asset sector has evolved to the point that a lot of people in the United States will suffer Fear of Missing Out (FOMO) in 2022. This will become a crucial factor for many investors to enter the market for the first time, accelerating cryptocurrency adoption:

“We’re going to see more first-time buyers in the area across the United States.” FOMO, I believe, will be a major driver.”

People are significantly more open to Bitcoin and altcoins now than they were 5 years ago, according to Marquez. She believes that one in ten Americans plans to send digital assets as a Christmas gift to relatives or friends this year, while two-thirds prefer to talk about cryptocurrencies.

“I also believe that crypto has grown more digestible for the general consumer in the last five years.”

Talented Individuals Embracing Crypto

The “talent shifting,” according to Marquez, will be the second-factor driving adoption next year. According to her, the pandemic drove many professionals to leave their old jobs in search of more lucrative prospects.

Cryptocurrency-related enterprises and fintech organizations, according to BlockFi’s CEO, are appealing possibilities because both industries offer long-term solutions:

“And, to be honest, bitcoin and fintech have been a tremendous draw for folks trying to learn new skills and further their careers.” As a result, I believe we’ll see more talent migrate to crypto and the fintech sector from other, more traditional industries.”

Regulations will be advantageous

The creation and implementation of a complete regulatory framework for the business is the last item that could lead to crypto adoption in the next year.  If the US watchdogs are successful in resolving the problem, Marquez believes that investors and corporations will feel considerably more secure about entering the market.

Michael Saylor shares this viewpoint

MicroStrategy’s CEO recently suggested that greater transparency in the space would benefit Bitcoin and alternative coins, with institutional adoption following soon after. Setting correct rules, he concluded, might even reduce BTC’s volatility and increase its acceptance among the general public:

“There’s a requirement for clarity. Crypto rules and business clarification would lower bitcoin volatility and boost public confidence in the cryptocurrency.”

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.