Wells Fargo Says It Is Not Too Late to Buy Bitcoin

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It is not too late to invest in bitcoin, said multinational financial services giant Wells Fargo in a Monday report, drawing parallels between the adoption rates of the internet in the 1990s and that of cryptocurrencies today.

Wells Fargo’s global investment strategy team explained in the report that Bitcoin’s over 200% annualized gains since its first transaction in 2010 often lead some investors to think that it may be too late to join the party. However, the big bank disagrees.

“We understand the ‘too late to invest’ argument but do not subscribe to it,” the report said, explaining that similar to the internet in the mid-to-late-1990s, Bitcoin and cryptocurrencies “could soon exit the early adoption phase and enter an inflection point of hyper-adoption.”

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