Wells Fargo analysts say it is not too late to invest in Bitcoin and believe that focusing on the past performance of crypto it could mislead some new investors so let’s read furhter in today’s latest Bitcoin news.
The Wells Argo analysts say that crypto adoption is still in its early stages. In the report by WFII’s Global Investment Strategy team, the analysts noted that Wells Fargo doesn’t believe it is too late to invest in crypto despite their rising prices:
“We understand the ‘too late to invest’ argument but do not subscribe to it. We believe that focusing too much on past performance, especially with cryptocurrencies, can be misleading to new investors.”
The report pointed out that the crypto-asset space is still a nascent industry considering that most of the top coins are launched less than five years ago. They added that even the oldest crypto is still far from being matured fully. Rather than considering crypto investments to be too late, the analysts categorized them as being early but not too early. They noted that the adoption rate of crypto mirrors and other advanced technologies like the internet but on an advanced scale:
“We see cryptocurrencies in the ‘early, but not too early’ investment stage… Cryptocurrency adoption rates look to be following the path of other earlier advanced technologies, particularly the internet. If this trend continues, cryptocurrencies could soon exit the early adoption phase and enter an inflection point of hyper-adoption.”
The analysts outlined that investors should learn as much as they can about crypto space and the investment options that are available on the market. They noted that there’s a limited number of crypto investment products that are available to the investors and added that the exchange-traded products in the US are backed by futures and not the digital assets themselves:
“We do not recommend any of the other current investment options, such as mutual funds, ETFs, grantor trusts, and individual cryptocurrency speculation. We are hopeful that greater regulatory clarity in 2022 brings higher-quality investment options.”
As recently reported, Wells Fargo is a leading American financial services organization while HSBC Bank is a major British monetary institution that will employ a blockchain-based product that will settle matched foreign exchange transactions. With the partnership, HSBC and Wells Fargo will use a shared ledger to process operations with Canadian Dollars, US dollars, Euros, and British pounds with more plans to extend the additional currencies in the near future.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post