© Reuters
Investing.com – According to a report by Wells Fargo (NYSE:), investing in and other cryptocurrencies now could be an investment opportunity comparable to the early days of the internet.
The report, titled “Cryptocurrencies – Too early or too late?”, calls cryptocurrencies “viable investments”, but also stresses that there is no rush to enter the market, stating that it does not endorse to the idea that it was “too late to invest” in cryptocurrencies, noting that the space is “relatively young” compared to other asset classes.
Wells Fargo believes that the technology behind cryptocurrency is following a similar adoption path to the internet in the early to mid-1990s, when “consumers still needed time to understand what technology was, what what it can do and how it can benefit them.”
Wells Fargo points to a surge in the number of cryptocurrency users, suggesting that “the world is starting to adopt the technology – and fast.”
“If this trend continues, cryptocurrencies could soon exit the early adoption phase and enter a hyper-adoption inflection point, similar to other technologies,” the bank says.
“There is a point where adoption rates start to increase and don’t look back […] Hard numbers aside, there’s no doubt that global cryptocurrency adoption is on the rise, and could soon reach a hyper-inflection point.”
Despite everything, “there is no need to rush” insists the bank, which judges that “most opportunities are in front of us, and not behind us”, adding:
“We are optimistic that regulators can soon approve mutual funds and ETFs backed by the digital assets themselves – possibly as early as 2022,” an event Bitcoin enthusiasts await as a consecration that will propel it to new heights. new records.
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