KPMG, the Netherlands-based Big Four auditor, released a report on November 15 that reveals their incredibly bullish case for cryptocurrencies.
The report, titled “Institutionalization of Cryptoassets,” is 42 pages long and goes in depth on the key challenges facing cryptocurrencies, and why digital assets are a force to be reckoned with. It also has a strong focus on the institutionalization of crypto assets, explaining how and why institutions will enter the highly lucrative cryptocurrency asset class.
Right off the bat, the KPMG report opens with a bullish segment titled “Crypto assets are a big deal.” The section goes on to explain the parabolic rise cryptocurrencies had in 2017 and how they dwarfed traditional asset markets.
KPMG acknowledged the downtrend we’ve seen throughout 2018.
However, they claim that this is less important than the wave of new entrants into the space and the explosion of functional crypto products and services, concluding: