End-of-year reports for 2022 are in, and some of them may surprise investors. In a turbulent year for Bitcoin and other cryptocurrencies, they still managed to stay on top in terms of investment opportunities. Indeed, research has shown that crypto remains the largest investment sector in 2022, having outpaced fintech and biotech.
Crypto More Commonly Used in Key Sectors
Crypto is a popular investment opportunity because it’s clear that it has endless potential for the future. The fact that its usage has boomed in some of the world’s most thriving online sectors is promising. The iGaming industry is notorious for being ahead of the times with tech trends, and Bitcoin is now well integrated there. Players can access a wide range of casino games on a crypto gambling platform, including slots like Sweet Bonanza and live-dealer games like Craps and Crazy Coin Flip. They simply need to open an online casino account using their crypto wallets, and then stake on the games using BTC or a different cryptocurrency of their choice.
One of the reasons why crypto is so big in the iGaming sector is because these sites are used by people from all over the world. The industry has effectively preempted the borderless online society that’s set to exist when the metaverse takes off toward the end of the decade. In these internet spheres in which individual countries aren’t separated, it doesn’t make sense for people to use their own currencies. They need cryptocurrency that can be used around the planet.
Many of the world’s top companies are looking forward to this crypto future and have started to integrate it as one of their payment methods. Some of the best-known brands to have jumped on crypto in a big way include PayPal, Tesla, Microsoft, Burger King, and AT&T.
Future Remains Bright for Crypto
There’s no doubt that it has been a difficult year for the crypto industry. Going into 2022, Bitcoin and the other digital assets it inspired were going strong. The original cryptocurrency was worth around $50,000 to one BTC in December 2021. However, it tanked massively at the turn of the year and continued to decline every month. By December 2022, the value of one BTC was $17,000.
The tumultuous nature of cryptocurrency is enough to put off many investors, and this has influenced the loss of market value over the last year. When the value begins to drop, people often panic and sell off their assets, thus leading the price to plummet further. Some investors preempt the dips and rises cleverly, always managing to buy low and sell high. Others see the benefit of holding on to their assets for the long term, as they should eventually yield returns in the future.
People who have observed Bitcoin over its history won’t be too fazed by the recent turmoil. Throughout its lifetime, the digital currency created by Satoshi Nakamoto has gone through various high and low periods. These tend to come in a cycle, with massive spikes occurring after each halving. The next halving event is in 2024, and this could result in the highest value ever for cryptocurrency.
Fintech and Biotech Still Ripe for Investment
Despite crypto being a more popular area of investment this year over biotech and fintech, it doesn’t mean that these two industries aren’t great options as well. In fact, wise investors would see more sense in spreading risk across all three of these industries. This is because they all have the potential to yield high returns in the future.
By 2030, the global fintech market is projected to be worth $814 billion, with biotech coming in at more than $1.5 trillion. Both sectors will play a huge part in the future of humanity, and it makes sense to put some money into both. The main question that investors need to consider is which companies will have the brightest future. The sensible thing to do would be to buy shares in a range of companies to have as much cover as possible.
Any investors who may have felt downhearted about the decline of cryptocurrency this year have numerous reasons to feel positive. It’s still a ripe area for investment, and it could be massive in ten years’ time. 2023 could bring about a steady rise before another spike at the next Bitcoin halving in 2024.