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Home»News»Cryptocurrency News»Study: 10% increase in the crypto market cap would reduce the market cap of small African companies by 0.76%

Study: 10% increase in the crypto market cap would reduce the market cap of small African companies by 0.76%

Cryptocurrency News April 4, 2022
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A study conducted by two assistant professors at the American University in Cairo, Mina Sami and Wael Abdallah, found that for every 10% increase in the market value of cryptocurrencies, the market value of “African micro-entities” fell by 0.76%.

The findings also suggest that companies in less competitive industries are more likely to be hurt by the expansion of the cryptocurrency market. For example, the authors concluded in the report that the cryptocurrency market “has a considerable impact on Africa’s energy, financial, industrial and consumer services sectors.” In contrast, the real estate and information technology industries are affected by crypto, the authors say. Market growth has less impact.

At the same time, the authors claim their research underscores the importance of having “internal strategy and company experience.” These characteristics are critical for African companies that must compete with cryptocurrencies.

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