There is no secret that cryptocurrency has become the fastest-growing financial market in the world. The year 2021 was truly the year of cryptocurrency; last year the crypto market has seen a huge rise, a massive number of people including famous celebrities, influencers and others have invested in the crypto market. Even the US government has also passed a federal law to regulate cryptocurrency.
Even though this year has also started with a bang, the Indian government has also acknowledged cryptocurrency and has introduced a new tax slab for the crypto holders in their financial bill. From all these aspects we can understand that crypto is getting popular day by day.
Nonetheless, if you are wondering if cryptocurrency can change the monetary system of the world then to get your answer you can read our blog post. In the below section we have discussed whether it is possible or not. Along with that we have also analyzed the current situation of the cryptocurrency, so that you can understand how much time it will take to bring the change in the world economy.
Current status of the crypto market
If you will notice properly the current status of the crypto market is growing rapidly the graph of the market is upwards. The market size of crypto is valued at around 2 billion dollars which was around 1.6 billion in the year 2020. Therefore, you can understand how rapidly the crypto market is growing.
Do you know the crypto market can cross the 5 billion dollars mark in upcoming years? Yes it is true, according to various crypto experts the crypto market will cross the 5 billion dollars mark by 2030. If you wonder how, then you must understand that the crypto market is constantly growing at a CAGR of 12.8% from 2021, we can estimate that it can easily beat the 4 billion dollar mark by the end of 2027-2028.
Therefore, if you also want to become a part of this billion-dollar market, you must start investing today in cryptocurrency. And for that you can use tesler trading crypto exchange platform, this is one most lead crypto exchange platform in the world.
The future of money
We all know how money evolved from the barter exchange process. At present money is the legal tender that is used as a medium of exchange in every country. But money has a great downfall, if you wonder how? Then let us explain, inflation plays one of the most significant roles that can determine the value of the currency. Thus, people are wanting for a medium exchange that will have no such issue.
And that gave birth to cryptocurrency, this process has started to evolve more. At present various industries are accepting bitcoin as a mode of payment. With the rising price, potential growth and high benefits. The market is rock solid and also celebrities, influencers and even the government are involving themselves in the crypto market.
Therefore, we can say that cryptocurrency has the potential to change the monetary system of the world.
We hope that you have precisely understood if cryptocurrency can change the monetary system of the world or not.