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Wells Fargo: Cryptocurrency Has Entered ‘Hyper-Adoption Phase’

News Feed - 2022-02-13 10:02:29

Wells Fargo: Cryptocurrency Has Entered "Hyper-Adoption Phase"


Financial services firm Wells Fargo says that cryptocurrencies are viable investments that have entered the “hyper-adoption” phase. “Cryptocurrencies have been following an adoption pattern similar to other new advanced technologies, such as the internet,” the firm’s global investment team detailed. Crypto in Hyper-Adoption Phase, Says Wells Fargo


Wells Fargo’s investment institute published a special report titled “Understanding Cryptocurrency” this week. The report attempts to answer whether it is “too early or too late” to invest in cryptocurrencies.


The Wells Fargo team explained: We believe that cryptocurrencies are viable investments today, even though they remain in the early stages of their investment evolution.


They added: “We recommend professionally managed private placements for now, as the investment landscape is still maturing.”


The research team continued: “We see cryptocurrencies in the ‘early, but not too early’ investment stage, which is why we have emphasized investor education. The thrust of our view comes from global cryptocurrency adoption rates, which have quickly accelerated from a low base.” They noted: Cryptocurrencies have been following an adoption pattern similar to other new advanced technologies, such as the internet.


The Wells Fargo analysts reiterated, “For today’s investor trying to figure out if we are early or late to cryptocurrency investing, looking at technology investing in the mid-to-late 1990s seems reasonable.” They added: At that time, the internet hit a hyper-adoption phase and never looked back. Cryptocurrencies appear to be at a similar stage today … We are hopeful that greater regulatory clarity in 2022 brings higher quality investment options.


Nonetheless, the firm recommended: “Cryptocurrency investment options today, however, are still maturing and we advise patience. For now, we suggest the consideration of only professionally managed private placements.”


Wells Fargo started offering crypto investments to clients in August last year. The firm has also filed for a bitcoin fund with the U.S. Securities and Exchange Commission (SEC). Tags in this story Wells Fargo, wells fargo bitcoin, Wells Fargo bitcoin internet, wells fargo crypto, Wells Fargo crypto internet, wells fargo cryptocurrency, Wells Fargo prediction


What do you think about Wells Fargo’s crypto analysis? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Netflix Orders Crypto Series About a Couple"s Alleged Scheme to Launder $4.5B in Bitcoin Stolen From Bitfinex FEATURED | 9 hours ago Billionaire Bill Miller Has "Very Big" Bitcoin Position — Calls BTC "Insurance Against Financial Catastrophe" FEATURED | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleNetflix Orders Crypto Series About a Couple’s Alleged Scheme to Launder $4.5B in Bitcoin Stolen From Bitfinex Next articleHungary’s Central Bank Governor Calls for EU-Wide Ban on Cryptocurrency Trading and Mining Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFarmville Creator Zynga to Launch NFT Games, Says Gaming Firm"s Blockchain Lead


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