Is Bitcoin dead? Is cryptocurrency in general dead? These are questions Crypto Beadles hears all the time. Crypto Beadles is a free YouTube channel for crypto enthusiasts. New videos are released weekly to address news in the cryptocurrency market, interviews with blockchain industry leaders, as well as diving into up and coming technologies. Having over 70,000 subscribers and more than 13 million video views, Crypto Beadles continues to gain popularity in the crypto space.
Many people want to know what’s going on in the cryptocurrency market. Is it dead or does it just need adoption? In the video below, Crypto Beadles goes over several possible adoption scenarios to show what could happen if various groups adopted cryptocurrency and blockchain technology. Disclaimer: none of this is financial advice, everything he shares is for information and education purposes only. Always seek out professional advice and do your own due diligence before investing in anything.
His video can be viewed at this link: https://www.youtube.com/watch?v=p2EExvvvUZw.
Early in the YouTube video above, Beadles discusses the adoption rate of crypto and compares it to the adoption rate of the internet. He then shows a graph showing the trends and what the adoption rate has looked like over the 21 years to get to where we are today. He makes the comparison between how the internet was adopted and then to cryptocurrency wallets, and if they are adopted in a similar ratio, we could go from 5.8 million wallets to 720 million crypto wallet users in 21 years. He explains that this is all a loose interpretation.
One possible cryptocurrency adoption model is if social media started using its own cryptocurrency within their platforms. Crypto Beadles encourages people to think about the vast number of social media users. Facebook has roughly 2.27 billion users, Twitter has 330 million, YouTube around a billion, Telegram about 200 million and Kick approximately 300 million users. Together that’s around 4.1 billion users give or take. He discusses what if just 10% of those people use a platform’s coin instead of using a credit card, etc. to pay for all types of things. That would be 410 million users. As an example, he explains that the average user spends $189 on their Coinbase account. What if they spent $189 in social media cryptocurrency? If you take the $189 and apply that to 410 million people that would be over $77 billion. Beadles shares that for every $1 put into the cryptocurrency space that market cap raises up about $50 according to the industry. This could see just that $77 billion could result in a possible $4 trillion market cap for social media alone.
Next Beadles discusses the gaming market. He shares how there are currently 2.3 billion active gamers in the world right now. Of course, all of them don’t spend money. The article he shows in the video reports that about 46% of gamers spend money. He encourages the viewer to think about just 10% spending money in crypto, that would be 230 million gamers. If they spent an average of $10 each, that would be 2.3 billion dollars. The market cap of that would be around $150 billion.
Crypto Beadles next poses the question of what if the big banks and other financial institutions get involved. Once they start seeing adoption and see the benefits, it could “take off like wildfire.” He explains that obviously this would take time and shows charts of how much money is wire transferred throughout the world. He has viewers imagine what could happen if just a few percentage points were moved to cryptocurrency from the trillions of dollars that are transferred per day.
Another scenario is stock markets and money managers. Crypto Beadles explains that these funds don’t put all of the funds in one area, they diversify. “There are 60 major stock exchanges in the world with a total value of $69 trillion.” What if they just put 2% into crypto? That would be roughly $1.38 trillion coming from stocks and going straight to cryptocurrency. As more security-based tokens start getting part of the business revenue, it’s very plausible that traditional financial institutions could get involved in a big way.
Finally, Beadles takes viewers through the possibility of crypto getting part of the Global Gross Domestic Product. He goes through an example of the $84 trillion Global GDP and how that could equate to $1.68 billion if just 2% goes into cryptocurrency. The final example he uses is the estimate for 2022, and that’s where he goes through how Bitcoin could possibly reach $3.2 million.
These are great examples of how adoption rates could happen and change things in a big way. In reality, though, there isn’t usually just one area of adoption. What if more than one of these happen? What if one arrives at 3% and another at 1%? This is just one of the exciting things about cryptocurrency and blockchain technology for all of the early adopters. The potential is enormous and quite impressive.
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For more information about Crypto Beadles, Blockchain, or Cryptocurrencies please can visit https://cryptobeadles.com/.
Release ID: 482696