Who says it's too late to buy bitcoin? The hyper-adoption phase is approaching

Key facts:

• The mass adoption of cryptocurrencies may have reached a tipping point.

• There are more and more bitcoin users around the world, as happened with the Internet.

It's not too early, much less too late to start investing in bitcoin (BTC), Wells Fargo notes. The traditional financial institution of the United States believes that the mass adoption of cryptocurrencies is underway and may have already reached a tipping point, comparable to what happened in 1990 with the Internet.

In a report titled "Understanding Cryptocurrencies", Wells Fargo asks the question "is it just the beginning or is it too late?". And with it try to find out if it is early or late to invest in cryptocurrencies.

The fourth largest bank in the United States suggests that it is the right time to invest in BTC, or other cryptocurrencies, although it considers that the market still lacks a certain maturity, so it recommends that any exhibition must be guided by "professionals".

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" For now, we suggest consideration of only private placements professionally managed. We do not recommend any of the other current investment options such as ETFs, trusts and private cryptocurrency speculation. We are hopeful that greater regulatory clarity in 2022 will provide higher quality investment options."

Wells Fargo "Understanding Cryptocurrency" report.

People feel that it is too late to invest in bitcoin and that is understandable, says the report The reason this happens is because many investors they may be seeing a skewed picture of the cryptocurrency market, especially because of things that happened in the past, such as high speculation or a new cryptocurrency appearing every moment. Given this, highlights the need for investor education.

However, he has no doubt that more personalities will be attracted to the cryptocurrency market, as it is one of the highest paid assets. That's the case for bitcoin, which has seen a "216Þs year-over-year increase from 2010, while the overall return of the S&P 500 stock index stood at just 16% a year," Wells Fargo adds.

Similarly, the financial institution believes that

the adoption of cryptocurrencies will continue to gain momentum as new stories of personalities who own bitcoin and have become billionaires become known. In fact, it mentions the Forbes ranking of the world's billionaires in 2021, among which are 12 cryptoactive entrepreneurs.

The hyper-adoption of bitcoin, comparable to the Internet

Wells Fargo draws parallels between the adoption of cryptocurrencies, with the performance of the Internet in the late 90s. The nature of both is comparable because they are considered complex technologies by the general public. However, there is no chance that the level of adoption they reached will decrease , but it will continue to increase, each time with greater speed.

Wells Fargo points out in its report cryptocurrency adoption rates similar to those of the Internet that in 1990 reached a turning point. Source: Wells Fargo Report.

The use of the web increased from 77 million in 1996 to 412 million in 2000 After that, the number of Internet users worldwide increased to 1.98 billion and reached 4.9 billion in 2010 That is why Wells Fargo sees the same thing happening with the adoption of bitcoin and other cryptocurrencies since in its early days, the figures were surprisingly similar.

From the time of the Internet's launch in 1983, through 1995, only 14% of Americans used it, with less than 1% of the world's population using the Internet at the time.

On the cryptocurrency side, currently, the 13th Americans have paid for products and services with bitcoin or trading cryptocurrencies in the last 12 months, according to survey data from the University of Chicago. Only about 3Þ the world population U.S.A. cryptocurrencies, according to data from Crypto.com.

Another element that will give a boost to the adoption of cryptocurrencies will be regulation which is already underway with rules and regulations in various parts of the world. It will be a change of perspective, considering that, in the past, the uncertainty of the rules made large investors reluctant to expose themselves to cryptocurrencies.

Wells Fargo is no stranger to the cryptocurrency industry and even revealed in a survey last year that teenagers they know more about bitcoin than their parents, as they reported CriptoNoticias

The financial services company also said in May 2021 that it will offer bitcoin exposure to its exclusive clients. With this, Wells Fargo showed an extreme change of perspective after maintaining an unfriendly attitude towards cryptocurrencies.

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