Wells Fargo Compares Bitcoin to 1850’s Gold Rush
Each and every day we inch closer to major mainstream adoption – and one day, BOOM, it is going to happen just like that and the world will never be the same
Wells Fargo Compares Bitcoin to 1850’s Gold Rush, Plans to Increase Coverage of Crypto Assets
“’If you feel left out of the gains, don’t. The chart highlights that bitcoin has indeed outperformed gold and the S&P 500 Index over the last three years, but look at the volatile journey bitcoin investors had to endure to get there.’
Although Wells Fargo believes Bitcoin is likely here to stay, they say the market remains highly speculative.
‘Cryptocurrency investing today is a bit like living in the early days of the 1850’s gold rush, which involved more speculating than investing… Over the past 12 years, [cryptocurrencies] have risen from literally nothing to $560 billion in market capitalization. Fads don’t typically last 12 years’”