Wells Fargo, a banking behemoth, is bullish on Bitcoin, predicting that crypto adoption will skyrocket

<p>Wells Fargo believes that crypto has risen from virtually nothing, and that adoption is nearing a tipping point. The banking behemoth claims that Bitcoin is in the same stage as the internet was in the mid-to-late 1990s.</p> <p>Wells Fargo believes that it is not too late to purchase Bitcoin</p> <p>Wells Fargo, a multinational financial services conglomerate, has a bullish outlook on cryptocurrency. The banking giant's global investment strategy team believes that Bitcoin's annualised gains of more than 200 percent do not indicate that it is "too late" to invest in the cryptocurrency.</p> <p>Wells Fargo sees parallels between the early days of the internet and the rise of cryptocurrencies today.</p> <p>According to the report:</p> <p>We understand the 'too late to invest' argument, but we disagree. [Bitcoin] may soon exit the early adoption phase and reach a point of hyper-adoption.</p> <p>According to Wells Fargo, Bitcoin is a digital invention with current infrastructure that has the potential for rapid adoption. Through "private placement," institutional investors have joined the race to acquire Bitcoin and gain exposure to the cryptocurrency.</p> <p>According to the bank's analysts, the steep Bitcoin adoption curve is fuelled by regulatory clarity and institutional adoption. The banking behemoth claims that buying Bitcoin directly from an exchange requires complex technology.</p> <p>According to the report:</p> <p>We anticipate that cryptocurrencies, like recent digital inventions, will eventually follow an accelerated adoption path.</p> <p>Bitcoin adoption has been steadily increasing over the last month. According to analysts, recent events and rising institutional capital inflows are fueling a bullish narrative for the Bitcoin price.</p> <p>@CryptoSultan21, a crypto analyst and trader, believes Bitcoin has set its sights on the $47,000 mark.</p> <p>According to FXStreet analysts, Bitcoin's price target is $50,000.</p> <p> </p> <p><a href='http://paypal.me/cryptopirates'>Support us!</a></p>