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Crypto FOMO Will Be Huge Investment Driver, Regulatory Clarity Expected in 2022, Says Blockfi Executive – Markets and Prices Bitcoin News

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A senior Blockfi official says that “this year has been a huge year for mainstream consumer demand for crypto.” Note that the fear of missing out (FOMO) will be a huge motivator for investors, the manager expects some regulatory clarity next year.

Crypto FOMO will promote investments in 2022

Flori Marquez, co-founder of Blockfi and senior vice president of operations, discussed the future forecast of cryptocurrencies towards 2022 in an interview with Yahoo Finance Live Friday.

Blockfi, founded in 2017, was created to provide credit services to markets with limited access to simple financial products. The crypto-focused financial services company has institutional backing from investors, including Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, Sofi and Coinbase Ventures.

“It’s been a huge year for crypto,” she began. While acknowledging that the price of bitcoin has fallen slightly, she puts it in perspective: “If you look at the year-on-year returns of bitcoin, bitcoin has returned, as of today, 112%. And when you compare it to gold and S&P respectively, it’s negative 4% and “So, year after year, it has been volatile for the last 30 days. But it’s still a great investment for people who participated a year ago.” Management described:

I can say that this year has been a huge year for mainstream consumer demand for crypto.

“We’ve seen huge moves in terms of American consumers’ interest in this type of asset type,” she added.

When discussing the forecast for the cryptocurrency market towards 2022, she noted that “if we look at Blockfi numbers alone, in the last three years, we had 10,000 customers at the end of the month. [first] Year, 100,000 customers at the end of the [following] This year, and this year, we will have over 500,000 customers by the end of this year. “

Management elaborated, “Looking to 2022, I really think we’re going to see three things,” adding:

The first is that we’re going to see more consumers across the US enter space for the first time. And I think a huge driver is going to be FOMO [fear of missing out].

“So we’re getting into the holiday season. People are going to talk about the new things they’ve invested in this year. And I do think crypto has become a little more digestible for the average consumer than it was five years ago,” she said.

Second, she thinks we’re going to see “talent recycling,” noting that a lot of people are switching jobs because of the Cubid-19 epidemic. She added that the fields of crypto and fintech have been a huge attraction for people.

Finally, she believes we are going to see some regulatory clarity in the crypto space next year, noting:

I think we’ll see in 2022 … some regulatory clarity. Much work has been done in terms of working with regulators to understand what needs to happen to allow this sector to continue to grow. And I hope to see it next year.

“My understanding is that regulators currently have two main things they are focusing on,” she continued. “They look at consumer protection, and they also focus on maintaining innovation in the U.S.”

Management concluded: “I also believe that regulatory clarity will allow many companies building in crypto to build more clearly, which will help us hopefully be safer for consumers in the long run. And it will also help adopt this mainstream because consumers will feel more confident knowing regulators are in this space as well.”

Tags in this story

bitcoin fomo, Blockfi, crypto fomo, crypto investment driver, crypto outlook 2022, crypto regulation, fomo cryptocurrency, fear of missing out, FOMO, investment motives, regulatory clarity

What do you think of the blockbuster manager’s comments? Tell us in the comments section below.

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Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the junction between economics and cryptography.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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