Is cryptocurrency here to stay?

There was a time when people weren’t sure whether cryptocurrency was here to stay. It was an experiment let loose on the wild wild web. People weren’t sure if it would fail and forever be in the graveyard with countless other internet busts.

During all previous bull cycles, amid the uncertainty, it always took a credible visionary to re-assure others that there was something real going on. Whether it was Andreas M. Antonopoulos electrifying the audience or Marc Andreessen coolly investing in companies, there was always a need for reassurance that we weren’t all crazy.

I’m happy to say that this year we finally don’t need that reassurance because the ecosystem has enough credibility behind it. The cryptocurrency economy has grown tremendously since those times.

For example, this year we’ve seen decentralized exchanges (DEXes) have over $25 billion in volume per month. DeFi conracts have over $19.96 billion locked. Grayscale investments has over $16.3 billion in assets under management. Stablecoins have a market cap of $18 billion. All of these numbers are massive and trending up.

Major tech companies are in on it — Amazon, Shopify, Square, Uber, Facebook, Kiva, Paypal, and more are implementing features in their product roadmap to incorporate these technologies.

All major financial institutions like JP Morgan, Visa, Goldman Sachs, and American Express have some sort of blockchain or cryptocurrency initiative.

Every major country is thinking about it and some countries like China or Japan are going as far as creating their own government cryptocurrencies.

So, if you’re asking the question of whether cryptocurrency is here to stay, I want to reassure you that 100% it’s here to stay. The cat is out of the bag. Now as an investor the question becomes less of whether cryptocurrency will exist, but more about who will be the winners.

Software engineer in the Bay Area, cryptocurrency enthusiast, and runner. This is where I muse.