The future for cryptocurrency in 2021: What are experts saying ?

Will cryptocurrency last? With more governments adopting their own digital currencies, it looks like crypto is headed towards
Will cryptocurrency last? With more governments adopting their own digital currencies, it looks like crypto is headed towards even more mass-market adoption

Expert predictions on the future of cryptocurrency for 2021

While 2020 has been rough for most people, it has been a rather exciting year for the fintech and crypto space. Here are five key predictions on the future for cryptocurrency in 2021.

1. Bitcoin will continue to see strong demand

In an interview with CNBC, the Winkelvoss twins, Tyler and Cameron Winklevoss, early Bitcoin investors and founders of crypto-exchange Gemini, predicted that Bitcoin would gain more than 25 times its current value as more investors adopt the cryptocurrency as a hedge against inflation.

  • Payment company, Square, bought about $50 million in BTC.
  • Business intelligence platform, MicroStrategy, also just recently spent another $650 million on Bitcoin. So did Massachusetts Mutual Life Insurance Co., purchasing $100 million worth of BTC for its investment fund.
  • PayPal had also recently entered the crypto market and has announced that its customers can now buy and sell Bitcoin (and other cryptos) using their PayPal accounts.
What happened to cryptocurrency in 2020 is undoubtedly exciting, but industry leaders also recognize the need to address chal
What happened to cryptocurrency in 2020 is undoubtedly exciting, but industry leaders also recognize the need to address challenges to reach the next level of adoption.

2. A wave of adoption from institutional investors

In an article for Yahoo! Finance, PwC Global Crypto Leader, best-selling author, and University professor, Henri Arslanian, predicted that banks and other traditional financial institutions will continue to “fall in love” with cryptos like Bitcoin.

  • Continued growth in emerging global markets in Southeast Asia, South America, and Africa.
  • An exponential increase in developer activity, not only in Bitcoin but also for higher-performing altcoins.
  • More fiat onramps into crypto.

3. More disruption in the banking and finance industries

Besides Bitcoin investments, banks are getting involved with other aspects of crypto too. Having once disregarded crypto as a serious asset, now banks like JPMorgan Chase have revealed their proprietary digital currency (the JPM coin) recently.

  • People will start opening Cryptocurrency Bank Accounts.
  • Cryptocurrency Debit cards will become an everyday thing.
  • Crypto ATMs will become more widespread.
  • Crypto loans will start to be offered by institutional banks.
Will the future of cryptocurrency be bright this 2021? Most experts say, “yes.
Will the future of cryptocurrency be bright this 2021? Most experts say, “yes.

4. The continued rise of stablecoins

In Chainalysis’s “2020 Geography of Cryptocurrency Report”, stablecoins have gained significant ground, especially in places such as Latin America and Southeast Asia. Local merchants are using stablecoins to settle transactions, completely bypassing the traditional banking rails in the process, and this trend will only continue throughout 2021 and beyond.

Get in on the future for cryptocurrency in 2021 with MyConstant

Without a doubt, 2020 has been an exciting year, not just for Bitcoin but for the crypto space in general. Cryptocurrencies have exhibited incredible resilience in uncertain times, even rising to the occasion as the new sweetheart among investors and traders of all kinds.

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