A new report by Bloomberg Intelligence projects that the United States might embrace cryptocurrencies by 2022, inspired by recent happenings in the sector.
The report dubbed Global Cryptocurrencies: 2022 Outlook notes that the U.S. might enact regulations to govern the sector in a bid to stay ahead after China’s increasing ban on digital currencies.
Additionally, Bloomberg states that the growth of non-fungible tokens alongside bullish price projections will potentially push the U.S. to adopt cryptocurrencies. According to the report:
“Incentivized by China’s ban and the proliferation of revolutionary technologies such as crypto dollars and non-fungible tokens (NFTs), we expect the U.S. to embrace cryptocurrencies in 2022, with proper regulation and related bullish price implications. Stable coins may be misnamed, as most of the track the dollar. The unlimited supply of fiat currency should sustain rising prices, notably in Bitcoin and Ethereum, which have limited supply.”
