Banking giant Wells Fargo said it’s not too late to buy cryptocurrencies.
Wells Fargo has published a report titled “Understanding Cryptocurrency”. The report suggested that it is not too late to buy Bitcoin and other cryptocurrencies. The bank made the following statements in the report:
In the report, the bank included investor arguments that it is too late and too early to invest in cryptocurrencies. He used the following statements on the subject:
He also said that the performance numbers are “skewed” because the prices of most cryptocurrencies have developed almost from scratch, and that the early years of crypto were “highly speculative.”
Given the global adoption rates of crypto, the bank thinks it’s still early enough to invest in this space. According to him, cryptocurrencies are still a “relatively” young investment space and represent a “different type of investment” due to the complexity of the technology used to support them.