FOMO will drive crypto adoption in 2022, says BlockFi co-founder

Flori Márquez, co-founder of cryptocurrency custodian BlockFi, said that upward price action, new talent, and regulatory clarity will combine to create a bubbling FOMO atmosphere for crypto adoption in 2022. In an interview with Yahoo Finance on Friday , Márquez also shared insights regarding the growth of the industry in 2021.

Marquez suggested that cryptocurrencies have become “more digestible” for the average consumer than in 2016. He explained that other important drivers for growth in 2022 will be the large number of trained experts working in the crypto industry and regulatory clarity.

The statistics he cited set an optimistic base for growth in 2022. According to BlockFi research, one in 10 people plan to give away crypto this year while adding:

“About two-thirds of Americans prefer to talk about crypto rather than, if you think about five years ago, only 1% of people had ever traded crypto, and 50% of Americans had never heard of crypto five years ago. years”.

BlockFi’s internal metrics are also indicative of flourishing adoption. In the first year of your reward card operations, 75,000 people signed up. Marquez noted that the number is “absolutely huge because most fintech companies are looking to see around 10,000 credit cards in their first year.”

More interesting for FOMO in 2022 is the revelation that for most of Blockfi’s clients, when they receive a BTC reward, they don’t sell it for cash.

Related: Robinhood allows US users to give away cryptocurrencies for the holidays

These discoveries reflect broader adoption trends in the crypto space, particularly among the very young. A recent CNBC poll revealed that 83% of millennial millionaires now own cryptocurrencies. “Hodling” is catching on with BlockFi clients, 38% of whom plan to keep, and only 6% plan to reduce their crypto exposure in the next year.

For Márquez, however, it is the festive moment of new regulations and new talents entering the crypto space that is critical. He commented that crypto and financial technology have greatly attracted people looking to learn something new and expand their careers.

“So I think we will see more talent moving from other more traditional industries to the crypto and fintech sector. And the last thing I think we’ll see in 2022 is some regulatory clarity. “

As families come together over the holiday season with the price of Bitcoin (BTC) holding steady above $ 48,000, a deep-rooted and long-awaited FOMO atmosphere could drive both prices and adoption into 2022.