Cryptocurrency Adoption Outpaces Phones and Internet: BlackRock
BlackRock’s latest research It reveals that cryptocurrency adoption is outpacing mobile phones and the internet. It took these technologies 25 years to reach 300 million users.
However, the cryptocurrency achieved this in just 12 years. This is 43% faster than mobile phones and 20% faster than the Internet. Mobile phones took 21 years to reach 300 million users, while the Internet took 15 years.
The investment giant explained that this is due to factors such as demographics, macroeconomic environments and technologies. The report also focused on the segment of so-called “digital natives”, who are more interested in cryptocurrencies than representatives of older age groups.
Overall, the reported trend is more pronounced among Generation Z and Millennials. Another study by Enable A recent study of the financial services industry in America revealed that 34% of Generation Z prefer cryptocurrencies over physical cash more than any other generation. Supporting this were insights from another financial platform, Stilt He noted that there is evidence that 94% of cryptocurrency buyers are under the age of 40.
BlackRock highlights role of younger generations in cryptocurrency adoption
Gen Z significantly outperforms Gen X by 3.5 times, Baby Boomers 14.3 times, Millennials are 15.5 times more likely to outperform Gen According to the study, this dominance underscores the cultural shift in cryptocurrency adoption.
Changes in concerns such as inflation, geopolitical environments and the shifting trend towards fully digital banking systems have also affected the uptake of cryptocurrencies. It is important to highlight it Bitcoin (BTC), which has been called “digital gold” and has seen widespread adoption as a hedge against the traditional economy, not to mention a growing number of users internationally.
Donald Trump’s new presidency begins in January. newly, He was named Time Magazine’s 2024 Person of the Year. the The Washington Post reports He may sign executive orders for cryptocurrencies on his first day and endorse the industry.
JUST IN: 🇺🇸 Donald Trump is expected to issue executive orders on the first day of his presidency regarding… #Bitcoin And cryptocurrencies – The Washington Post pic.twitter.com/6E8Y5ICB9d
– Bitcoin Magazine (@BitcoinMagazine) January 13, 2025
On the organizational sidecrypto proponents scored a partial victory as Coinbase prevailed against the US Securities and Exchange Commission (SEC) on January 14th. She also dismissed the SEC’s rejection of Coinbase’s 2022 request for guidance on clearer rules for cryptocurrencies as “fraught with arbitrariness and capriciousness” and asked the agency to explain why. This decision may represent a potential liberalization of the standards that were established for use; Thus, the door can be opened wide for the public to benefit from it increasingly.
We just won our request for an injunction in the Third Circuit. rebuke @SECGov In its order denying our rulemaking petition, the court held that “the SEC’s order was categorical, insufficiently justified, and therefore arbitrary and capricious, we grant Coinbase’s petition…
– paulgrewal.eth (@iampaulgrewal) January 13, 2025
The popularity of cryptocurrencies is also expected to attract greater interest from institutions. Galaxy Digital researchers say A US spot ETP could hold more than $250 billion in assets by 2025 to reflect growing institutional interest.
Although recognizing that there may be short-term barriers to development, Black Rock Analysts are confident that institutional investment, improving regulatory landscape, and demographic trends will push the industry into its positive days. Thus, leaving more barriers to entry, cryptocurrencies will take their rightful place in the international financial system, maintaining a strong pace of introduction.
Cryptocurrency support not only confounded skeptics, but also reshaped the traditional model of technological development. It is a well-documented fact that the younger generation is leading this revolution, which is reinforced by the emerging macroeconomic and regulatory environment. Most importantly, it’s just getting started. If the past is an indicator of the future, the next decade will reveal that Cryptocurrencies The basis of the global economy.
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