Wells Fargo Believes Crypto Adoption Will Experience Explosive Growth
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Main page Opinion, Cryptocurrency
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9 February

As predicted by analysts at US bank Wells Fargo in the bank's latest report, cryptos appear to be nearing a "hyper-adoption" phase similar to the Internet in the second half of the 1990s.

Experts from one of the largest US banks have compared the development of cryptocurrencies with other innovative technologies, and have come to the conclusion that digital assets have not yet passed the so-called "tipping point." Once this happens, there will be an explosive mass adoption of innovations.

Wells Fargo analysts believe the adoption of cryptocurrencies is similar to the expansion of the Internet. The World Wide Web was invented in 1983 and in 1995 only 14% of Americans were using it (less than 1% of the world's population).

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These data are very similar to those observed in the field of cryptocurrencies. For example, according to a survey, 13% of Americans have bought digital assets in the last 12 months, while 3% of people in the world use them.

In 1996, the number of Internet users reached 77 million, and by 2000, there were already 412 million. After 10 years, the figure approached 2 billion and now stands at 4.9 billion users.

The bank's analysts believe the adoption of cryptocurrencies could even surpass that of the Internet.

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