US bank Wells Fargo’s analysts predicted “hyper-acceptance” of cryptocurrencies

According to experts, the current situation resembles the spread of the Internet in the mid-90s

09.02.2022 - 14:55

169

2 min

What’s new? The analysts of the US bank Wells Fargo have published a report predicting a “hyper-acceptance” of cryptocurrencies. The experts compared today’s digital asset market situation to the implementation of the internet in the mid-90s.

Wells Fargo analysts’ report

What did the analysts say? According to the researchers, cryptocurrencies in the process of adoption have the potential to outpace the internet in terms of the implementation pace. The World Wide Web was invented in 1983, but by 1995 only 14% of Americans were using it. These figures are very similar to those now seen in the cryptocurrency sphere.

According to the survey, 13% of Americans have bought digital assets in the past 12 months, while globally 3% of the population uses them. With almost 5 billion people now using the internet, Wells Fargo is confident in the worldwide adoption of digital assets.

The source: Wellsfargoadvisors

A similar situation has occurred with Wi-Fi and smartphones. The analysts stated:

“We believe that cryptocurrencies are viable investments today, even though they remain in the early stages of their investment evolution.”

Wells Fargo’s experts say it is not too late to invest in reliable projects. However, they noted that the lack of proper regulation and the speculative nature of the cryptocurrency market can carry investment risks.

Author: