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International financial services corporation Fidelity published research on cryptocurrencies.
The report covered the spheres of regulations, adoption, market awareness, the expansion of the industry, and other analyses.
Fidelity mentioned that in 2021 Bitcoin saw significant growth. At the start of the year, Bitcoin traded for around $29.000. At the end of the year, the price was about $47.000. Last year, the coin had a 64% gain. The institution noted that the year was volatile for the coin. BTC reached its all-time high of around $68.700 in November.
Another major development for the industry was the rising awareness and adoption both from retail and institutional investors. Fidelity said that there also was increased product access through private placements and futures ETFs.
According to the Fidelity Digital Assets 2021 Institutional Investor Survey, 71% of US and European institutional investors, intend to invest in digital assets in the future.
The number has grown compared to the last 3 years. The institution expects further growth in 2022. Fidelity says although there isn't an approved spot ETF, the approval of BTC futures ETFs increases the possibility of other crypto-related services and products.
The research stated that while China banned cryptos, El Salvador legalized Bitcoin in 2021. According to Fidelity, countries that secure BTC today will be competitively better off than others. While history will show which approach is more effective, embracing innovation leads to more wealth.
Fidelity finds even if other countries don' believe in the BTC investment and adoption, they will need to obtain some BTC as a form of insurance. It's not excluded that a central bank will make a B TC purchase, Fidelity says. An outright ban is unlikely to happen, according to the bank.