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- Wells Fargo, a multinational financial services company, has published a report titled “Understanding Cryptocurrency” that aims to decode the question if it’s too early to invest in Bitcoin?
- The investment institute suggests looking at the adoption curve of 90s technology, the Internet. The internet did not look back once it hit the high-adoption phase.
- The firm recommends investors professionally manage private placements. Besides, the firm also wants investors to be patient while they invest in cryptocurrency as the space is still maturing.
This week, a report titled “Understanding Cryptocurrency” was published by investment institute Wells Fargo. The report aims to answer one of the most sought-after questions: whether investing in Bitcoin now is too early or too late.
A multinational financial services firm, Wells Fargo is an American company that has corporate headquarters in San Francisco, California. The firm has managerial offices all around the U.S and in foreign countries too.
The Wells Fargo team believes crypto investments are viable even today despite them being in the rather early phases of their evolution in investment.
The team suggests professionally managed private placements as of now as they say the investment landscape is budding.
The Wells Fargo team says that it might be early for Bitcoin investments but not early, confessing it is the main reason behind their emphasis on investor education. Their motivation as they revealed has been rooted in the wider adoption of the cryptocurrency worldwide originated from a low base.
They explained: Cryptocurrencies are tracing the steps of technology that have preceded it such as the Internet.
Look At The Mid-To-Late 90s Technology Investing Trend: Wells Fargo Team
The team asked the investors who are still not sure if they are late to the party or not, to take inspiration from the technology investing in the mid-to-late 1990s.
They explained that once the Internet reached the point where it was being adopted rapidly, it just soared high from there. The crypto world is going through the same phase. They are also optimistic regarding the clarity on crypto regulation in 2022 and anticipate more quality investment options.
The firm also advises investors to remain patient while they explore and invest in cryptocurrency as the industry is still growing. Reiterating their suggestion, they recommend professionally managed private placements.
It was in August last year that Well Fargo started advising their customers to invest in crypto. The investment company has also registered for a Bitcoin Fund with the SEC or the Securities and Exchange Commission.
At the time of writing, Bitcoin’s price stands at $42,589.11. According to the market cap, Bitcoin is the leading cryptocurrency in the world.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
