Advisor Series: Cryptocurrency Adoption Trends Look Familiar

June 10, 2022
2 min read
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Transformative technologies are typically received with some skepticism at first. At the time of its inception, the internet was considered by some to be a fad that was too complex, too abstract, and too resource-heavy to catch on. Now, it’s difficult to imagine our world without it.  Cryptocurrency has, in many ways, mirrored the early adoption trends that fueled the rise of the internet.

Though internet usage was scattered in the early 90’s, it reached its inflection point in the mid-to-late 90’s and usage began to rise exponentially. By 1996, there were 77m users, which surged to 412m users in 2000 and 1.98 billion in 2010. Today, there are an estimated 4.19 billion internet users. A similar adoption curve can also be seen in subsequent web-based technology, such as smartphones and WiFi.

The current estimated number of crypto users is 200 million, but this is predicted to rise to 1 billion by 2027, an increase of 500%.

Many experts expect that crypto’s adoption rate will continue to grow in a similar way, particularly as more businesses and institutions begin to take part in this growing economy. The current estimated number of crypto users is 200 million, but this is predicted to rise to 1 billion by 2027, an increase of 500%. The graph below shows how these technologies began to accelerate in a similar way.

With rising rates of institutional and professional adoption, plus more avenues for retail investors to use it, it seems unlikely that cryptocurrency will diminish in the coming years. As it continues to appear in more portfolios, even crypto-skeptical advisors would be wise to consider this asset class as an important part of contemporary finance.

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This material has been prepared for informational and educational purposes only and should not be construed as a recommendation by ForUsAll, Inc., its affiliates or employees (collectively, “ForUsAll”)  to activate a cryptocurrency window or invest in crypto.  Investing in crypto can be risky and investors must be able to afford to lose their entire investment.  You should consult with your own advisers before activating a cryptocurrency window or investing in crypto.  ForUsAll does not provide legal, tax, or accounting advice. Please refer to your Plan's fee disclosure for more details.© 2023 ForUsAll, Inc. All rights reserved.
1 Schwab 2022 401(k) Participant Study - Gen Z/Millenial Focus, October 2022.
2 As of 12/31/2022. Employees include both current employees and terminated participants with a balance.
3 "Morgan Stanley At Work: The Value of a Financial Advisor" Morgan Stanley, March 2022.
4 Sarah Britton was a client when she provided this testimonial through an independent third party review website. She received no compensation for her remarks. There are no known conflicts of interest in the provision of her comments related to the services provided.