Crypto to reach 1 billion users in 2030: BCG Report
It’s a very common sentiment for people outside of the crypto community to look at Bitcoin (BTC) prices and make a conclusion that it’s too late to get into crypto. However, a report shows that the industry is still at the beginning phase of the adoption curve.
In a joint report published by BCG, Bitget and Foresight Ventures, data shows that compared to traditional investment assets, crypto adoption is still very low. According to BCG, only 0.3% of individual wealth is invested in crypto.
The report shows that it's incomparable to the 25% that is put into equities. Because of the data, the report concluded that the shallow penetration in terms of investment means that there is still a lot of room for more substantial growth and adoption within the crypto industry.
Apart from this, the report also compared the internet’s adoption curve to 1 billion users to current cryptocurrency holders, and Ethereum (ETH) addresses with non-zero balances. With this, the report mentioned that "there is plenty of growth to come."
Source: Boston Consulting Group, Bitget and Foresight VenturesBy comparing the data that they have, the researchers were able to predict that by 2030, crypto users may reach 1 billion if the trendline continues in its course.
Related: Bitcoin payments make a lot of sense for SMEs, but the risks still remain
A recent market report by consulting firm Verified Market Research predicted that in ten years, the nonfungible token (NFT) industry's value may shoot up to $231 billion. According to the report, the sector may continue an annual compound growth rate of 33.7% in the coming years, with drivers identified as music, film and sports.
On the other hand, a report from Mckinsey reported that the metaverse alone could be valued at $5 trillion in 2030. The international consulting company surveyed consumers and companies across various countries and industries to identify a pattern in consumer behavior. According to its findings, e-commerce will be driving the cash flow within the Metaverse, making up to $2.6 trillion in revenue by 2030.