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Major US bank: It’s not too late to buy crypto

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The crypto industry has experienced massive growth in the past year. In fact, its growth has been so rapid that many people are beginning to compare it to the early days of the Internet in the 1990s. Even the American bank Wells Fargo sees merit in this comparison. According to the bank, the crypto industry is still in its infancy and a ‘hyper-adoption phase’ is not excluded.

Wells Fargo on cryptos like bitcoin

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A report released by the US bank this week states that it is certainly not too late to invest in cryptocurrencies such as bitcoin (BTC) now . On the contrary, they even state that it is still very early. Although cryptocurrencies are a legitimate investment according to the bank, it is important for investors to realize that the industry is only just beginning.

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

The report vigorously opposes the argument that it is “too late” to invest in cryptocurrencies. According to Wells Fargo, the opposite is true. According to the report, it is dangerous to overvalue the past performance of crypto markets. Of course, the prices of cryptocurrencies have risen astronomically, but this is because it had to start practically from zero, according to the Wells Fargo report.

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Crypto and the Internet

Wells Fargo’s research draws some notable similarities between the crypto industry today and the rise of the internet in the 1980s and 1990s. The bank states that it is possible that the crypto industry has now reached a certain point in terms of adoption that is very similar to that of the internet at the time.

“Apart from the precise numbers, there is no doubt that the global adoption of cryptocurrencies is on the rise and may soon reach a hyperinflation point.”

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Of course we now know what the adoption curve of the internet came to look like. Today, the internet dominates the lives of a significant part of the world’s population and it has become an integral part of almost all sectors. Should the crypto industry enter a similar hyper-adoption phase, the possibilities are endless.

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