What is the next year look like for Crypto? BlockFi co-founder on crypto in 2022

What is the next year look like for Crypto
pic credit: Google Images|Cnbc

What does next year hold for cryptocurrency? Experts like Jesse Powell, Willy Woo, PlanB, Raoul Pal,  were all taken off guard by Bitcoin’s movement during the last six weeks, so it’s anyone’s guess at the moment. 

We’re in the midst of a historic scenario that’s being driven by pandemic politics and rising global economic volatility, rather than fundamentals or cycles. However, in many people’s thoughts, 2021 was the year cryptocurrency became popular, but it’s still years away from widespread use. 

Remember when the Today Show questioned, “What is the internet, anyway?” in 1994? Just because blockchain has become popular does not mean that everyone understands what it is. As a result, 2022 is shaping up to be FOMO’s year.

BlockFi co-founder on crypto in 2022

In this post, we examine potential scenarios that could result in significant crypto FOMO in 2022. If the cycles are indeed lengthening, 2022 will be an exciting journey. The data is shifting, but you can still be bullish because you can see the crypto institutions gearing up for a huge year next year. 

Look no further than Flori Marquez over at BlockFi for confirmation of this. Flori was just on Yahoo Finance, where he discussed how crypto FOMO will spread to the general public in 2022.

Flori is perfectly right. And there’s a lot of logic to back it up. According to a surprising statistic, one out of every ten people plans to give cryptocurrency as a present this year. That’s enormous! 

Consider how far crypto has come since 2019 when only a few people were aware of it. Bitcoin is now being debated in Congress as a potential new reserve currency. I’ll get to that in a minute.

Inflation

Because everyone is worried about the future, retail investors and consumers are looking for a new kind of asset. They can now watch inflation rob them in real-time. Those of us who were orange-pilled years ago predicted this, and we’re relieved that people are now paying attention. Take a look at this graph comparing Bitcoin inflation versus dollar inflation. 

Inflation
pic credit: Medium

That is exactly what we have been telling the people for years. However, it is only when things like the price of gas begin to hit home that it becomes apparent. This is wreaking havoc on people’s bank accounts, and it’s a wake-up call. 

But it isn’t simply inflation that is wreaking havoc on the middle class. It’s the fact that crypto has evolved quickly enough to provide solutions. Take a look at the crypto credit cards that are currently available: Coinbase, BlockFi, Arculus, SoFi, Gemini, and Crypto.com are just a few examples. This year, these are exploding in popularity. 

The year 2022 is not going to be a slow one. The good news is that the folks who are utilizing these cards to acquire cryptocurrency are HODLING it. They recognize its worth and are planning for the future.

Banks Support

Despite the year’s volatility, Bitcoin and Ethereum are up for the year, outperforming any mutual fund or traditional financial product. And that in itself is worth discussing with your family as we enter the new year. It’s not just about the blockchain. It’s a tangible number that you can point to. 

Bitcoin is up almost 90% for the year as of this writing, while Ethereum is up a whopping 501 percent. No one can dispute that these don’t work or that they aren’t valuable. Their worth is inherent. Bitcoin is a public, immutable, non-hackable, and decentralized ledger of transactions. Ethereum is the internet’s next phase, allowing for digital ownership via smart contracts. 

Two years ago, all of the major banks mocked Bitcoin. Now they’re all buying as quickly as they can. To mention a few, JPMorgan, Goldman Sachs, Chase, Citibank, UBS, and Morgan Stanley. Many individuals are unaware of this. However, they will begin to see Bitcoin and Ethereum funds in their prospectuses in 2022. 

And there will be a lot of talks with fund managers who don’t know the difference between a Chainlink and a Shiba Inu. So it won’t only be pricing that causes FOMO; some much-needed government clarity will also help to bring crypto to the mainstream. 

Yes, you can watch TV and see crypto advertising everywhere, but seeing a Satoshi on a daily basis is rare. All of that will change when the United States and other countries around the world begin to embrace cryptocurrency. 

With any luck, a Bitcoin spot ETF will be approved, the Ripple-SEC issue will be resolved, Bitcoin mining legislation will be passed, and cryptos will be accepted by Walmart and Amazon. 

When it comes time to pay taxes in 2022, the IRS will ask millions of Americans about their cryptocurrency holdings. More common technologies, such as weather forecasts, are being connected with Oracles like Chainlink and The Graph.

Bottomline

Please share your favorite ways to spread the crypto gospel to your friends and family in the comments section below. This year, make time for your family and friends and look for opportunities to chat about crypto rather than Shiba Inus. Because cryptocurrency is here to stay, the sooner you can get people interested in it, the better. That’s all I’ve got for now. Thanks for reading.

Disclaimer: All of our posts are based on our own personal experiences. Please ensure that you conduct your own research. Never rely on the advice of a single individual for financial advice. There are a variety of methods available, and not all of them are appropriate for everyone. Our writings are not intended to provide financial advice.

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