Wells Fargo Investment Institute, the research division of Wells Fargo Wealth and Investment Management, has published a report highlighting the potential of cryptocurrencies It’s an investment opportunity similar to the early days of the Internet.
In a Monday report titled “Cryptocurrencies – too early or too late?“ The banking giantsayAlthough cryptocurrencies are considered “potential investments,” it implies that there is still no rush for investors to enter mature markets. Wells Fargo’s global investment strategy team said it did not believe the idea that It is “too late to invest” in crypto because of this area. “relatively new” in terms of other asset classes
According to the giant banks The technology behind crypto was following an internet-like adoption path in the early to mid 1990s when “consumers still needed time to figure out what technology was. what they can do and how it can benefit them.” However, as with the internet, the growing number of crypto users knows “The world is starting to embrace technology — and fast,” according to a July Crypto.com study. It found that the number of global crypto users more than doubled from 100 million in January 2021 to 221 million in June.
“If this trend continues Cryptocurrency will be able to exit early adoption and enter the turning point of hyper-adoption This is similar to other technologies,” the report said. [… ] and in addition to the precise numbers There is no doubt that the global adoption of cryptocurrencies is on the rise. and soon it may reach the point hyper-inflection”
The Wells Fargo team advises, “There is no need to rush. Because most of the opportunities are right in front of us. not behind us [… ] We hope regulators may approve digital asset-backed mutual funds and ETFs soon — or possibly as early as 2022.”
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