By Bill Taylor, Contributor
Get ready for the ‘tipping point’, or the 10% ‘rule’.
There was a study done back in 2011 (as if I remember that) basically confirming “when just 10 percent of the population holds an unshakable belief, their belief will always be adopted by the majority of the society.” So, what are talking about? CRYPTOCURRENCIES, and they are just about to cross that threshold.
Trustnodes is reporting that a recent survey found 9% of Europeans hold cryptos while here in the U.S. that figure stands at 8%, and Australia logging in at 7%. Oh, and by the way, Spain, Turkey, Poland and Romania (??…..go figure) are already WELL over the 10% number. Now that’s pretty cool, BUT let’s look ahead into the future.
Another question was asked;
As you can see the numbers jump like crazy. Half of Turkey, more than a quarter of Brits and even here in the U.S., roughly 30% of the respondents think cryptocurrencies are the future of online spending. Oh yeah, about the same number believe cryptos are the future of investment, too. That certainly goes along with the trend of digitizing assets and tokenizing everything from equities to bonds (and a lot in between).
Amazingly, over 50% of Europeans think cryptos are either LESS or AS risky as stocks while an incredible amount (37%) of folks think digital currencies (bitcoin, ethereum, etc) are LESS risky or AS risky as government bonds. Now, of course you have to differentiate a Greek government bond versus a U.S government bond, but still……..that’s an incredible finding.
A few years ago only a small fraction of people had heard of blockchain (my spell check still flags it), let alone cryptocurrencies. Now over two thirds are aware of cryptos (with both good and bad opinions), and are consulting websites in significant numbers to keep up and learn more.
So, the 10% ‘line’ is about to crossed and the next wave of cryptos is only beginning. Don’t worry about the naysayers (or haters), they are too busy feeding their horses so they can hitch up their carriages to get to town.
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews