Wells Fargo believes it’s not “too late” to invest in cryptocurrencies

It seems that crypto assets are close to the “hyper-acceptance” stage, similar to the Internet, which in the mid-90s was used by less than 1% of all people in the world. But by the beginning of the 2000s, the number of network users had grown by hundreds of percent. This is stated in the report of analysts at Wells Fargo Bank.

According to the study, about 13% of American citizens have purchased cryptocurrencies in the last year. In the world, digital assets are used by about 3% of people.

Experts compared the development of digital currencies with other technologies and came to the conclusion that crypto assets have not yet passed the so-called “inflection point”. After this stage, there is usually a jump in mass adoption of innovations.

“We believe that cryptocurrencies are a viable investment today, although they remain in the early stages of their investment evolution,” the analysts said.

Wells Fargo doesn’t think it’s “too late” to invest in digital currencies. They are confident that a significant proportion of opportunities are still ahead. The capitalization of the entire digital asset industry is still inferior, for example, to Apple alone.

Well-known Trader Nicholas Merten also announced his forecast for the cryptocurrency market. He believes that the prerequisite for the recovery of bitcoin to the level of $45,000 and the growth of market capitalization to $2 trillion was the entry into the industry of corporations. The analyst is confident that large investors will continue to invest in digital currencies, which will help the market to start growing again.

“Corporate treasurers are not going to buy new all-time highs. They buy when assets are discounted. This is how large corporations think, who understand that they need to buy when there are practically no people willing to buy on the market,” Merten explained.

The analyst cited the purchase of BTC and ETH by the Canadian subsidiary of the Big Four accounting firm KPMG as an example. In the future, the company intends to gain a foothold in the fields of DeFi, NFT and metaverses.

Nicholas Merten believes that this news can encourage other companies to acquire digital currencies. Do you agree with this?