Cryptocurrencies have gained massive acceptance in the last year and are expected to grow even larger in 2022.
Former US Treasurer Rosie Rios believes that those who want to enter the cryptocurrency space at this time are already late. According to her, the cryptocurrency market has already grown, and it is impossible to catch up with these first steps again.
Rios, who served as treasurer in the Obama administration from 2009 to 2016, recently gave her opinion in an interview with CNBC that blockchain technology will remain. She is a big fan of blockchain technology and cryptocurrencies and believes that the industry will only get bigger.
“The train has already left the station. Blockchain technology is here. You it’s not just the future. It is already being used worldwide.“
The cryptocurrency market has grown massively in the last year. The prices of most coins have risen by more than 200% since the beginning of the year and have surpassed numerous financial asset classes.
The total market capitalization of cryptocurrencies hit the $3 trillion mark last month as Bitcoin raced to a new all-time high of over $69,000. Since then, however, the market has been in a declining trend, with the prices of most coins falling by more than 20%.
At the time of writing, Bitcoin is trading above the level of $ 48,000, as it continues to struggle to cross the psychological point of $ 50,000. Rios expects 2022 to provide more clarity for the cryptocurrency space in terms of regulation.
The United States and other leading economies of the world are already taking a look at cryptocurrencies. They intend to regulate the activities of cryptocurrency platforms in the coming years, as the market continues to grow.
Rios is optimistic that more institutional players will enter the cryptocurrency market in the coming months and years.