2019 is shaping up to be a stellar year for crypto investors.
If you bought the two biggest cryptos - bitcoin and ethereum - at the beginning of 2019, you'd be sitting on gains of 63% and 29% respectively.
That's more than double the returns of the S&P500 and the JSE All Share.
But, cryptos are more than just about prices and gains.
There are bigger things happening behind the scenes that crypto investors need to know about. That's why today, I'm going to show you in two simple charts, why the crypto revolution is just getting started.
On behalf of our Board of Governors, I’d like to invite you to join The South African Investor
Our aim is, quite simply, to protect and expand your personal wealth through the traditional methods of making money…
However, I have to tell you upfront: at our last Executive Committee meeting, our members proposed 1,000 nominees for membership. The reality is, though, we can only accept 275 new members this year. We have to limit numbers, and you’ll soon see why…
#1 More and more people are using cryptocurrencies
Despite a +70% drop in bitcoin’s price in 2018, cryptocurrency ownership is growing.
Last year, the CEO of one of the world's most important crypto companies, Blockchain, said that the company was adding approximately 50,000 users per day. That was during the longest bear market in bitcoin's history.
But a more recent survey by banking giant ING, revealed that about 8% of adults across 15 countries own or have owned cryptocurrency and more than 20% of respondents said they "expect to own cryptocurrency in the future".
The real kicker, however, is the growing number of bitcoin wallets. Just take a look below…
Since 2017, users have created more than 24 million wallets
Blockchain publishes a graph showing the number of bitcoin wallets created since 2011. At the start of 2016, bitcoin users had created 5.4 million wallets (which are used to store, send or receive bitcoin) on the platform.
By 2017, there were roughly 11 million.
Today, there are more than 35 million wallets – that’s 24 million wallets created in around two years.
Cryptocurrency investors are following a well-established pattern. We are in the early adoption phases of this innovative technology, with tremendous growth ahead.
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#2: Investments into cryptocurrencies are accelerating
Hedge-fund managers and venture capitalists pour cash directly into cryptocurrency start-ups to help the businesses build out the new services, technology, and hardware required to push cryptocurrencies into the mainstream.
According to the cryptocurrency news site Coindesk, investment in cryptocurrencies is picking up steam. Venture capitalists invested about $2.5 billion into the industry in 2017.
As of third-quarter 2018 – the most recent data available – they had invested more than $4.5 billion.
The chart below shows the acceleration in venture capital funding on a monthly basis…
In 2018, you can see a huge spike from less than $100 million to over $200 million per month and more. One month nearly reached half a billion!
In short, the amount of capital entering the cryptocurrency industry is staggering.
See you next week,
Managing Editor, Real Wealth
P.S. There are a few cryptos
that have the potential to revolutionise the financial industry. And South African Investor’s
resident crypto expert reveals the ones you need to own to make big money in the coming years.