Global crypto adoption could ‘soon hit a hyper-inflection point’: Wells Fargo report
https://ift.tt/I7DuHxr
Some of the more interesting parts imo:
>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. First, performance numbers are skewed because most cryptocurrencies evolved from virtually zero.
Here are two commonly repeated ideas from reddit and other pro-crypto places:
>Cryptocurrencies have been following an adoption pattern similar to other new
advanced technologies
>Our view: Cryptocurrency adoption today looks similar to the 1990s internet
And finally the summary:
>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. At that time, the internet hit a hyper-adoption phase and never looked back. Cryptocurrencies appear to be at a similar stage today. Cryptocurrency investment options today, however, are still maturing and we advise patience. For now, we suggest the consideration of only professionally managed private placements. 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.
It’s basically a beginner’s synopsis for WF customers interested in crypto. They advise patience but voice optimism in the space.
Cryptocurrency
