What can you expect?
The influx of institutional money
- Institutional investors such as investment banks and hedge funds have jumped on board the Bitcoin wagon.
- The recent up trend of Bitcoin in the current bull market can be partially attributed to this.
- These investors pour massive amounts into Bitcoin because of it’s “Digital Gold” narrative.
- Additionally, in the uncertain economic climate that we are in right now, Bitcoin has been subject to mass adoption globally, as a hedge against inflation.
Mass adoption
- Crypto became more accessible to people in 2020, especially with payment services like PayPal making it available to their massive user-base.
- The emergence of DeFi has fueled crypto adoption among the unbanked population in underdeveloped regions such as Africa.
- Also, countries such as India, that had initially banned crypto use, have lifted these bans, favoring the ever-growing industry.
- With Facebook’s cryptocurrency development diem (formerly Libra) and payment system set to launch in 2021, more and more people are likely to enter the crypto space.
Decentralized Finance (DeFi)
- DeFi is fast bridging the gap between traditional finance and cryptocurrency development service, making finance more accessible and open.
- With services like lending, insurance, derivatives, mutual funds, and more, the opportunities to make money in DeFi are endless.
- Many DeFi yield farming projects provide extraordinary returns on deposits when compared to traditional banks.
- This has brought a large number of people into the crypto space, and will bring even more in 2021.
Uses beyond finance
- 2021 will also yield critical gains in crypto adoption in contexts not directly related to monetary transactions.
- Healthcare tech could be one of the most obvious beneficiaries, owing to the need for innovation in this space.
- Tokens that incentivize users to be healthy while providing them with access to their medical records, has been popular in 2020.
- These accounts paint a picture of an industry that is poised to keep reaching more people and organizations in 2021 than ever before.
