It is a common sentiment for people outside the crypto community to look at Bitcoin (BTC) prices and conclude that it is too late to get into the crypto world. However, a report shows that the industry is still at the beginning stage of the adoption curve.
In a joint report published by Boston Consulting Group, Bitget and Foresight Ventures, the data shows that cryptocurrency adoption is still very low compared to traditional investment assets. According to BCG, only 0.3% of individual wealth is invested in cryptocurrencies, which is incomparable with the 25% that is invested in stocks.
The report concludes that the shallow investment penetration means that there is still plenty of room for further fundamental growth and adoption in the cryptocurrency industry.
In addition, the report compares the adoption curve of the Internet to reach 1 billion users with existing holders of cryptocurrency and Ethereum addresses with non-zero balances. The report states that “there is a lot of growth ahead”.
Source: Boston Consulting Group, Bitget and Foresight Ventures
By comparing the data, the researchers predict that the number of cryptocurrency users will reach one billion by 2030 if the trendline continues.
Related: Bitcoin Payments Makes Sense for Small and Medium Businesses, But Risks Remain
A recent market report from consulting firm Verified Market Research predicted that the value of the non-fungible tokens (NFT) industry could reach $231 billion within 10 years. According to the report, the sector may continue to grow at a compound annual growth rate of 33.7%, with music, movies and sports identified as drivers.
On the other hand, a report by McKinsey & Company stated that the Metaverse alone could be valued at $5 trillion in 2030. The international consultancy conducted a survey of consumers and businesses in different countries and industries to determine consumer behavior patterns. According to his findings, e-commerce will drive cash flow within the Metaverse, and will generate revenue of $2.6 trillion by 2030.