Co-founder of cryptocurrency custodian BlockFi, Flori Marquez, believes that fear of missing out – or FOMO – will guide crypto adoption in the future. According to her, new players in the market will attract youth investors greatly. Be it for job openings in the industry or Bitcoin being the standard of hedge against inflation, many people will enter the crypto space in the coming years. In the age of social media and instant communication, that would have a psychological effect on those who do not enter the field. Popularly known as FOMO, fear of missing out refers to a psychological state of being anxious about what other people are doing and not being able to be a part of it. Brands use FOMO tactics to lure more customers all the time. Given the ubiquity of social media, FOMO is now more effective than ever.
Adding to this, Flori Marques also said that regulatory clarity will be an important driver of crypto adoption rates. Many countries are now working out policies to give a legal framework to cryptocurrency and digital assets. As confusions in this space subside, it will provide a space for growth and innovation. Marques is hopeful about the future of cryptocurrency and believes that 2022 will be a very important year for cryptocurrencies. She added that apart from first-world developed nations, many third-world developing and underdeveloped nations will play a huge role in increasing crypto adoption rates. Her predictions make a lot of sense going by the present trends and data.