A joint study by Boston Consulting Group (BCG), Bitget, and Foresight Ventures revealed that the adoption of digital assets is still in its infancy. If the trend continues, the total number of cryptocurrency users should reach one billion by 2030, the entities stated.

Adoption is gaining ground

According to the research, cryptocurrency adoption is still at its basic point, with only 0.3% of total individual wealth spread across the asset class. By comparison, 25% of people’s funds are allocated to stocks such as shares of private companies.

North Americans are the most likely to invest large sums in digital assets, while Africans are in the opposite corner. On average, a single investor from the African continent has around $190 worth of cryptocurrencies.

Despite the low adoption rate and the recent market downturn, BSG, Bitget and Foresight Ventures expect a new wave of people to join the digital asset universe in the coming years. Comparing the asset class to the development of the internet in the 1990s, the entities calculated that the number of cryptocurrency users is likely to reach one billion by 2030.

It is worth noting that professional traders find the digital asset industry more attractive than others. Retail investors have distributed around 300 million dollars or 4% of their assets in it, while institutional investors have allocated 2% of their total portfolio.

“Among institutional investors, hedge funds and venture capital firms are the most willing to invest. These players have almost doubled their exposure to $70 billion from Q4 2020 to the end of 2021. We expect allocations to continue to increase,” the study says.

The investigation further outlined some of the largest corporations that own cryptocurrencies, including Tesla and MicroStrategy. However, it is worth mentioning that the electric vehicle giant recently sold 75% of its bitcoin holdings for more than $930 million.

Coinbase CEO with the same forecast

In May this year, Brian Armstrong, CEO and co-founder of Coinbase, also predicted that the total number of cryptocurrency users worldwide will rise to one billion. Contrary to the aforementioned study, the executive believes that this milestone will be reached in the next 20 years.

Armstrong’s forecast is not without logic as cryptocurrency adoption has been on the rise recently, especially during last year’s bull run. During the first six months of 2021, the number of people involved in the market more than doubled, reaching more than 220 million.

Different sources indicate that more than 300 million people currently classify as users of cryptocurrencies.

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