Wells Fargo: Cryptocurrencies May be Approaching a ‘Hyper-Adoption Phase’

According to new research from financial services and banking behemoth Wells Fargo, cryptocurrencies may be approaching a ‘hyper-adoption phase’ similar to the one experienced by the internet in the mid-to-late 1990s. Despite being in the early phases of their investment evolution, Wells Fargo believes cryptocurrencies are viable assets today. According to research from the bank’s Global Investment Strategy Team, the cryptocurrency investing landscape is still growing. Wells Fargo analysts advise investors to stick to professionally managed private placements for the time being. They also stated that any of the other current investment options, such as mutual funds, exchange-traded funds (ETFs), grantor trusts, and even individual Bitcoin speculation, are not recommended. According to the Wells Fargo analysis, analysts are hopeful that this year will bring more clarity to cryptocurrency rules, which might lead to better quality investments. Wells Fargo said that it understands but does not subscribe to the idea that it is too late to invest in crypto assets. According to the researchers, Crypto’s success figures have been skewed since the assets have grown from ‘basically nil’ to where they are currently. The cryptocurrency business is quite new with the great majority of projects being less than five years old. Crypto’s Potential Huge Growth Wells Fargo noted in the research that there is a need for investment education in th...