Cryptocurrencies are in the ‘hyper-adoption’ phase
This is what one of the largest financial services companies in the world says: cryptocurrencies are currently in ‘hyper-adoption’ phase. Read here what that is.
We’re talking about financial services firm Wells Fargo. They say cryptos can be seen as viable investments right now. They have entered the hyper-adoption phase. “Cryptocurrencies have followed an adoption pattern similar to other new advanced technologies, such as the Internet,” the company’s global investment team said.
Cryptocurrencies in hyper adoption
Wells Fargo’s investment institute released a special report last week titled “Understanding Cryptocurrency”. The report tries to answer whether it is “too early or too late” to invest in cryptocurrencies. It’s never too late, let’s say that first. Cryptos – and to a lesser extent stocks – will always go up and down. So money can always be made.
The Wells Fargo team explained: We believe that cryptocurrencies are viable investments today, even though they are still in the early stages of their investment evolution. They added: “We recommend professionally managed private placements for now as the investment landscape continues to mature.”
Early stage
The research team sees cryptocurrencies in the ‘early, but not too early’ investment phase, so we have emphasized investor education. The thrust of their vision comes from the global cryptocurrency adoption rate, which has been rising rapidly from a low base. They noted, Cryptocurrencies have followed an adoption pattern similar to other new advanced technologies, such as the Internet.
At the time, the internet entered a hyper-adoption phase and never looked back. Cryptocurrencies seem to be at a similar stage today. The team members hope that greater regulatory clarity will lead to higher quality investment options in 2022.
