- Bitcoin prices rose to an all-time high of $69K in 2021, spurring a tide of consumer interest in the cryptocurrency market
- BlockFi capitalized on this demand through the release of the first-ever crypto rewards credit card, signing up 75,000 clients in 2021
- Improvements to its trading experience helped BlockFi expand its overall client base from 100,000 to 600,000 over the past 12 months
BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, recently released a letter from its founders providing an introspective on the company’s 2021 milestones and highlighting the crypto market’s continuous path of growth.
Followers of crypto were treated to a wild ride in 2021. Bitcoin started the year under $30K before skyrocketing to an all-time high of $69K. The flagship of the cryptocurrency market ended the year around $47K, but this fluctuation has done little to quell the rising tide of interest in the evolving space.
Flori Marquez, Co-Founder of BlockFi, noted in a mid-December
interview with Yahoo! Finance that her firm has “seen huge moves in terms of American consumers being interested in [crypto].” In highlighting this growth in mainstream demand, she added:
- 1 in 10 people planned to gift crypto during 2021
- About 2/3 of Americans prefer to talk about crypto – five years ago, only 1% of people had ever traded crypto and 50% of Americans had never heard of crypto
Marquez went on to assert that crypto has become “more digestible” for the average consumer over the past five years, claiming that sustained upward price action and improved regulatory clarity will help foment a FOMO attitude toward crypto adoption in 2022. This outlook is promising for BlockFi.
In 2021, the financial services pioneer grew its client base from 100,000 to over 600,000, introducing a number of exciting solutions along the way, including:
- The first-ever crypto rewards credit card, which has already paid out over $15 million in rewards to over 75,000 clients
- An improved trading experience featuring five new asset classes and instant ACH trading
- BlockFi Prime, an integrated platform where institutional investors can easily access, trade and borrow digital assets
“We are very excited to see that we’ve hit 75,000 people using the Bitcoin rewards credit card,” Marquez said in the December interview. “That’s absolutely huge, because most fintech companies look to see about 10,000 credit cards in their first year. So, the fact that we’re at 75K just really shows that Americans are banging down the door to earn different types of awards.”
Looking ahead, BlockFi has announced plans to add trading capabilities for additional assets to its platform as it continues to find innovative ways to give its clients simple access to the returns available in the evolving crypto space. As Founders Flori Marquez & Zac Prince declared in a year-end summary, BlockFi is “heading into this year stronger than ever.”
For more information, visit the company’s website at
www.BlockFi.com
