Crypto mass adoption is coming, but how fast?

Cryptocurrencies must reach mass adoption to unlock their maximum potential as a network technology and their value as financial assets. 

As with other technologies, the adoption of crypto follows a classic bell curve: Starting from a small number of innovators, it grows as early adopters embrace it, moving into mass adoption as it expands to the early and late majority. Finally, it reaches those lagging behind in its final phase.

Since its launch 14 years ago, Bitcoin’s (BTC) adoption has dramatically increased. The cryptocurrency has gone from being a fringe technology discussed by a small group of cypherpunks and nerds to being known worldwide, with some nation-states even adopting it as legal tender.

According to most estimates, though, crypto’s global adoption rate is still in the single digits, which means it still remains in the “early majority” phase of global adoption.

To grow further and reach true mass adoption, crypto will need to overcome the “chasm” — the gap separating the early adopters from the early majority. To do so, certain catalysts may be required. 

What are those catalysts, and how far is crypto from reaching mass adoption? To find out, don’t miss the latest Cointelegraph Report on YouTube, and don’t forget to subscribe!

Articles You May Like

Ex-Nuveen muni chief John Miller lands at First Eagle investment firm
FOMC versus BTC price ‘local bottom’ — 5 things to know in Bitcoin this week
Trudeau says ‘credible allegations’ link India to killing of Sikh leader in Canada
S&P revises Pennsylvania’s outlook to positive from stable, affirms GO rating
DeFi protocol Balancer frontend is under attack, $238K crypto stolen