Crypto FOMO to be Huge Investment Engine, Regulatory Clarity Expected in 2022, Says Blockfi Chief – Markets and Prices Bitcoin News

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A Blockfi executive said that “this has been a huge year for mainstream consumer demand for crypto.” Noting that Fear of Missing Out (FOMO) will be a huge driver for investors, the executive expects some regulatory clarity next year.

Crypto FOMO to Boost Investments in 2022

Flori Marquez, co-founder and senior vice president of operations at Blockfi, discussed the future prospects of cryptocurrency through 2022 in an interview with Yahoo Finance Live on Friday.

Founded in 2017, Blockfi was established to provide credit services to markets with limited access to simple financial products. The crypto-focused financial services firm enjoys institutional backing from investors including Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, Sofi and Coinbase Ventures.

“It’s been a huge year for crypto,” she began. While acknowledging that the price of bitcoin has come down slightly, she put it into perspective: “If you look at bitcoin’s annual returns, bitcoin has come back, so far, to 112%. And when you compare that to gold and the S&P respectively, it’s minus 4% and 24%. So from year to year it has been volatile for the last 30 days. But it’s still a great investment for the people who participated a year ago. The executive described:

I can say that this year has been a huge year for mainstream consumer demand for crypto.

“We have seen tremendous movements in terms of US consumer interest in this type of asset class,” she added.

Discussing the outlook for the cryptocurrency market to 2022, she pointed out that “if we just look at the numbers from Blockfi, in the last three years we had 10,000 customers by the end of the year. [first] year, 100,000 customers at the end of [following] year, and this year, we will have more than 500,000 customers by the end of this year.

The executive detailed: “Looking towards 2022, I really think we are going to see three things”, adding:

The first is that we are going to see more consumers across the United States entering the space for the first time. And I think a huge pilot is going to be FOMO [fear of missing out].

“So we are entering the holiday season. People are going to talk about the new things they’ve invested in this year. And I think crypto has become a bit more digestible for the average consumer than it was five years ago, ”she said.

Second, she thinks we are going to see a ‘retraining of talents’, noting that a lot of people are changing jobs because of the Covid-19 pandemic. She added that the fields of crypto and fintech have been a huge draw for people.

Finally, she believes we’ll see some regulatory clarity in the crypto space next year, stating:

I think we will see in 2022… some regulatory clarity. Much work has been done in terms of working with regulators to understand what needs to happen to allow this sector to continue to grow. And I hope we will see that next year.

“I understand that regulators currently have two main things that they are focusing on,” she continued. “They are interested in consumer protection and are also focused on sustaining innovation in the United States.”

The executive concluded, “I also believe that regulatory clarity will allow many companies that build cryptos to build with more clarity, which will hopefully help us be safer for consumers in the long run. And it will also contribute to this widespread adoption, as consumers will feel more secure knowing that regulators are in this space as well. “

Tags in this story bitcoin fomo, Blockfi, crypto fomo, crypto investment engine, crypto outlook 2022, crypto regulation, cryptocurrency fomo, fear of missing out, FOMO, investment engines, regulatory clarity

What do you think of Blockfi’s executive comments? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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