American multinational investment bank and financial services company JP Morgan forecasts a spike in the crypto adoption rate amongst large investors and companies for the year 2022.
In a note to clients on Friday, research analyst Kenneth Worthington said, “the year of the blockchain bridge (driving greater interoperability of various chains) or the year of financial tokenization.”
As per bitcoin, the company said its “particularly well-designed as a modern store of value, and the strong design has contributed to the increased confidence in and value of Bitcoin.”
However, when compared against gold and other digital assets, bitcoin comes short based on stores of value, Worthington.
Furthermore, he says the volatile nature of bitcoin and other cryptocurrencies “could undermine crypto as a medium of exchange, as a unit of account and as a standard for deferred payments, the other recognized functions of money.”
But as we’ve seen in the past, the volatility of assets and the market doesn’t necessarily hinder crypto adoption, and prices are still likely to rise.