One theory from the ‘60s tries to explain how and why new ideas and technologies spread and go mainstream.
The theory categorizes adopters into five groups:
- Innovators.
- Early adopters.
- Early majority.
- Late majority.
- Laggards.
Somewhere between early adopters and the early majority, an idea reaches critical mass.
It’s at this point that the innovation goes from niche appeal to mass adoption.
I believe we’re nearing this critical mass when it comes to cryptos.
It might be hard to spot this trend if you just look at the individual-level adoption of cryptos.
But if we take a look at the moves at the institutional level, it becomes very clear.
The Institutional Landscape for Crypto Is Changing
The best way to see what’s happening with cryptos at the institutional level is to look at the concerns of regulators.
Recently the U.S. banking regulator, the FDIC, sent out a letter to all the banks under its purview.
The letter stated that banks need to report their crypto activities to the regulator.
The FDIC says this is part of mitigating risks posed by the “rapid introduction of … digital asset products into the financial system.”
So why is the FDIC so keen on getting involved at this point? Just look at what the major institutions have been up to.
Crypto custody firm Fireblocks recently formed a partnership with banking technology provider FIS.
Their goal is to bring large-scale crypto investing and decentralized finance applications to FIS’s 6,400 clients. This includes banks, hedge funds, asset managers and brokers.
Another regulator that recently published a warning “to exercise extreme caution” is the U.S. Department of Labor.
This was aimed at fiduciaries of employer-sponsored retirement plans.
The warning came after plan providers conducted surveys of their members.
The surveys showed that there’s a growing interest in adding cryptos to 401(k) plans.
Don’t Miss Out on the Opportunity to Get in on the Ground Floor
Institutions like your local bank and your retirement plan provider are getting involved.
That means cryptos are becoming more accessible than ever.
Soon the average person won’t need to know how to go onto a crypto exchange to gain exposure to the asset class.
Banks and other institutions will do all the heavy lifting for you.
While this is good news, it also means that we’re nearing mass adoption of cryptos.
Going back to the theory about adopters, there’s no prize for being part of the late majority or laggards.
The best time to get involved in cryptos is now. And one of the best ways to get involved is through the “Next Gen Coin.”
Just take a look at this chart of the number of unique digital addresses holding the Next Gen Coin.
The current count is over 190 million.
The Number of People Who Own the Next Gen Coin Is Rapidly Rising
(Source: YCharts.)
This chart has plenty of room to run … but not for long.
Click here to learn more about the Next Gen Coin.
Regards,
Research Analyst, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
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