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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto To Take Over The Financial Sector Over Next Decade, Survey Finds

Reynaldo Marquez
Reynaldo Marquez
3 years ago
2 mins read
Crypto Market

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Created by industry experts and meticulously reviewed
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Per a survey published by Bitstamp, the crypto space is on track to become a mainstream industry. The platform conducted a survey with over 28,000 participants, 5,400 senior institutional decision-makers, and 23 retail investors, across 23 global markets to try and take a pulse on the sector.

Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter

Since its inception, digital assets have grown into a $2 trillion industry at its all-time high. Once an interesting way for tech-savvy individuals to send money across the world, the participants of Bitstamp’s survey claim that they used crypto to buy groceries, donate, shop online, and other day-to-day items.

A majority of retail responders believe the industry is in its early stages. Therefore, they expect the next 5 years to be crucial for this industry’s growth. 75% think digital assets will reach mainstream adoption within 10 years.

As an additional sign of its potential to increase its adoption levels, institutional participants have been recommending it to its clients, the survey claims. As seen below, 68% of the institutional responders have been “actively recommending crypto” to their clients, with a 6% minority taking the opposite stand.

Bitcoin crypto 1
Source: Bitstamp

Similar to retail responders, 82% of institutions believe crypto will be mainstream in the coming decade. These investors class, the survey discovered, are very active in the space with 62% trading digital assets over 2 times per week and 54% claiming to have over 30% of their portfolio in cryptocurrencies. CEO at Bitstamp, Julian Sawyer said:

The adoption of crypto and other digital assets is advancing at an unprecedented rate. In the last few years, cryptocurrencies have moved from the outskirts of the financial ecosystem to find themselves front and center of mainstream investing, with many of the largest trading venues in the world now catering to both retail and institutional crypto needs (…).

The Countries That Could Adopt Crypto Faster

Over the next years, as digital assets gain popularity, emerging economies could be critical in boosting their expansion. At the moment, the emerging world leads in terms of trust with institutions in Nigeria, Brazil, Colombia, Argentina, South Africa, and others surpassing first-world countries.

Retail investors in the developing world are keener to trust digital assets. As seen below, these countries record over 75% in trust in contrast to the 50% or 60% in first world countries, such as the U.S., Spain, and the United Kingdom.

Bitcoin BTC BTCUSD crypto

Regulations continue to be a key subject for both retail and institutional investors. 47% of retail and 55% of institutions believe the industry lacks a regulatory framework. Thus, the industry’s future adoption seems highly tied to investors pressing their governments to provide more clarity on this item.

Related Reading | Bitcoin 401k? Fidelity Investments Says Yes 

In short timeframes, the crypto markets stand at critical support levels as Bitcoin and larger cryptocurrencies trend to the downside. At the time of writing, BTC’s price trades at $38,500 with a 3% loss in the last 24 hours. The bulls need to display strength to prevent further losses.

Bitcoin crypto
BTCUSD trends to the downside on the daily chart. Source: BTCUSD Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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