Global Crypto Adoption Might Reach A Hyper Inflection Point

Wells Fargo is a multinational financial services company known for its large operation throughout 35 countries. It’s a large financial institution with a national bank (Wells Fargo Bank, N.A) known to be the fourth-largest bank in the United States. Needless to say that this financial institute holds a lot of financial power and respect worldwide. 

The HyperInflection Point Might Be Coming Soon 

Wells Fargo stated that a hyper inflection point for global crypto adoption could be coming soon. The company’s own research division named Wells Fargo Investment Institute has recently released an interesting report for cryptocurrencies. 

Just recently their report states that cryptocurrencies are viable investments but they’ve shown that investors are in no rush to put their money in this potential goldmine. The reason being is that it’s still an undeveloped market. The company states that the market is still relatively young especially when you compare it with other assets so it isn’t too late to invest in cryptocurrency.

Their investment strategy team stated that it isn’t too early to invest either since cryptocurrency is facing a lot of regulatory blocks at the moment. However, clearing these blocks will create better investment options shortly. 

The financial institution claims that cryptocurrency technology is following an adoption path that is very similar to how the internet was in the 90s. This was a moment when potential consumers needed time to figure out the potential of this new technology and what it could do to benefit them. And this is likely the case with cryptocurrency as more and more users are finding out its benefits over the past two years. 

If the trend of cryptocurrency being adopted quickly continues then it could exit the adoption phase at an early stage and enter what they would call the inflection point of its hyper adoption. Just like with other similar technologies, the firm claims that global cryptocurrency adoption is definitely rising and it will soon hit its hyper inflection point 

Their report also stated that the eventual removal of regulatory roadblock is necessary for the technology’s adoption, further stating that the current environment is slowly heading toward solidifying cryptocurrencies as investment assets. Wells Fargo advises potential users of cryptocurrency to be patient since it’s still maturing in the meantime. 

They say that there is no need to rush and the opportunities for this new technology are yet to come. The one thing holding it back is regulation and hopefully, these roadblocks will soon be removed with the approval of ETFs and digital assets. 

Wells Fargo announced last year in October 2021 that they are offering to onboard qualified investors to its very own crypto investment platform showing their support for the potential of this new technology. 

Conclusion

With the growth of cryptocurrencies and the backing of large financial institutions like Wells Fargo, it’s only natural that it will reach a new hyper-inflection point. The company states that regulatory roadblocks are the ones hindering the growth of cryptocurrencies and the eventual removal of these could make it more viable investments in the future.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.