It’s a common sentiment for people outside the crypto community to look at Bitcoin (BTC) price and conclude that it is too late to get into crypto. However, a report shows that the industry is still at the beginning of the adoption curve.
In a joint report published by Boston Consulting Group, Bitget, and Foresight Ventures, data shows that crypto adoption is still very low compared to traditional investment assets. According to BCG, only 0.3% of individual wealth is invested in crypto, which is incomparable with the 25% invested in stocks.
The report concludes that low investment penetration means there is still plenty of room for more substantial growth and adoption within the crypto industry.
Additionally, the report compares the Internet adoption curve to reach 1 billion users with current cryptocurrency holders and Ethereum addresses with non-zero balances. The report mentions that “there is a lot of growth to come”.
Comparing the data, the researchers predicted that crypto users could reach 1 billion by 2030 if the trendline continues its momentum.
A recent market report by consulting firm Verified Market Research predicted that the non-fungible token (NFT) the value of the industry could draw up to $231 billion in 10 years. According to the report, the sector could continue a compound annual growth rate of 33.7%, with music, cinema and sports identified as drivers.
On the other hand, a report by McKinsey & Company reported that the metaverse alone could be valued at $5 trillion in 2030. The international consultancy firm surveyed consumers and businesses in various countries and sectors to identify patterns of consumer behavior. According to its findings, e-commerce will drive cash flow within the metaverse, generating up to $2.6 trillion in revenue by 2030.