more than 13,000 different cryptocurrencies are now being traded publicly - The total value of all cryptocurrencies on Oct. 22,
The second top disruptive technology in 2022 will be cryptocurrencies. Last year was a banner year for Bitcoin and its blockchain-based cousins. For 2021 as a whole inflows hit $9.3 billion, a 36% jump from 2020 . According to CoinMarketCap.com, more than 13,000 different cryptocurrencies are now being traded publicly. Cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. The total value of all cryptocurrencies on Oct. 22, 2021, amounted to more than $2.5 trillion.
Don’t be surprised if they hit $3 trillion this year. All in all, it is estimated that the global cryptocurrency market will hit $4.94 billion by 2030, nearly double its present value, while the price of a single bitcoin may reach $1 million.
Some predict the current Bitcoin boom is actually a crypto bubble, which will end in a crash as bubbles eventually do. But whatever happens to Bitcoin, cryptocurrencies aren’t going away. As long as central bankers continue to make inept decisions, cryptocurrencies will continue to give state-denominated currencies literally a run for their money.
As for their underlying security, former SEC Chairman Jay Clayton correctly predicts that blockchain or the Distributed Ledger Technology cryptocurrencies like Bitcoin rely on to protect investors, is the future of cyber security. But only if it addresses the third disruptive technology, quantum.