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
153
2 min
0
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.
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.
Useful material?
Incidents
The platform began the bankruptcy process in July 2022
Nov 28, 2024
Incidents
Crypto mixer smart contracts do not have an administrator key, so no one can control them, and they are not considered proprietary
Nov 27, 2024
Market
According to the politician, this will combat widespread corruption by ensuring transparency and accountability of budgetary funds
Nov 26, 2024
Market
Justin Sun invested $30 million in the project
Nov 26, 2024
Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024