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Bloomberg expects U.S. to adopt cryptocurrencies in 2022 (Report)

Bloomberg expects U.S. to adopt cryptocurrencies in 2022 (Report)

A new report from Bloomberg Intelligence predicts that the United States could adopt cryptocurrencies by 2022, inspired by recent developments in the sector, Finbold reports.

The report, titled “Global Cryptocurrencies: 2022 Outlook, notes that the U.S. may adopt regulations governing the sector in an effort to stay ahead after China's increasing ban on digital currencies. In addition, Bloomberg argues that the rise of unplayable tokens, along with bullish price forecasts, will potentially push the U.S. to embrace cryptocurrencies. According to the report: “Stimulated by the Chinese ban and the proliferation of disruptive technologies such as cryptodollars and non-playable tokens (NFTs), we expect the US to adopt cryptocurrencies in 2022, with proper regulation and corresponding bullish price implications. Stable coins may be misnamed, as most of them track the dollar. Unrestricted supply of fiat currency should keep prices rising, especially for Bitcoin and Ethereum, whose supply is limited”. The report also predicts that the switch could follow a potential surge in Bitcoin and Ethereum values due to the continued decline in the U.S. exchange rate. Treasury bond yields and low stock returns.

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