[Blockchain Today Correspondent Soyeon Kim] The Wells Fargo Investment Institute in the US recently released a report highlighting the potential of cryptocurrencies as an investment opportunity similar to the early days of the Internet, Cointelegraph reported.
According to the report, the institution’s global investment strategy team announced on the 7th (local time) that in a report titled ‘Cryptocurrency – Too Fast or Too Late? Eliminating it would be a high-quality investment opportunity for the future.”
The report referred to cryptocurrencies as a ‘successful investment’, but hinted that investors had no reason to rush into this still-growing area. He added, “I do not agree with the idea that ‘investment in cryptocurrency is too late’.”
According to Wells Fargo documents, cryptocurrency technology is going on a path similar to that of the Internet in the early to mid 1990s. At that time, consumers needed time to understand what Internet technology is, what it can do, and what usefulness it has, but just as they quickly adopted it, it is analyzed that cryptocurrency technology has also rapidly increased in users and the world has begun to embrace it. According to a survey conducted by Crypto.com in July last year, the number of global cryptocurrency users more than doubled from 100 million in January 2021 to 221 million in June.
The report continued, “If this increasing trend continues and there is a point where there is no more hesitation, there is no doubt that the world can reach a hyperinflection point where the world accepts cryptocurrencies.” In addition, Wells Fargo analysts said, “Investors need not rush, because once the regulatory hurdles are removed, high-quality investment opportunities will arise. Most opportunities have not passed and are waiting for us. We hope it will be approved,” he added.
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