Wells Fargo Investment Institute Report Compares Bitcoin to the 1850’s Gold Rush
On Monday, the U.S. bank Wells Fargo’s wholly-owned subsidiary and registered investment adviser the Wells Fargo Investment Institute published an investment strategy with a page dedicated to the crypto asset bitcoin. The institute’s contributing author and head of real asset strategy, John LaForge, compared crypto investing to the “early days of the 1850’s gold rush.” This week John LaForge from the American multinational financial services company Wells Fargo published an investment strategy editorial for the bank’s subsidiary the Wells Fargo....
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“Cryptocurrency investing today is a bit like living in the early days of the 1850’s gold rush, which involved more speculating than investing.” San Francisco-based bank Wells Fargo has released a report identifying Bitcoin as the best performing asset of 2020, while also highlighting the coin’s volatility for investors.In an investment strategy report released yesterday, the banking giant noted that Bitcoin (BTC) is up 170% this year and outperformed both gold and the S&P 500 Index. However, Wells Fargo seemingly understated the role cryptocurrencies are currently playing in the financial....
Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” said the president of Wells Fargo Investment Institute. Wells Fargo Getting Into Crypto Darrell Cronk, the president of Wells Fargo Investment Institute, a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, revealed his team’s crypto plans to the Insider in an interview published....
Financial services firm Wells Fargo says that cryptocurrencies are viable investments that have entered the “hyper-adoption” phase. “Cryptocurrencies have been following an adoption pattern similar to other new advanced technologies, such as the internet,” the firm’s global investment team detailed. Crypto in Hyper-Adoption Phase, Says Wells Fargo Wells Fargo’s investment institute published a special report titled “Understanding Cryptocurrency” this week. The report attempts to answer whether it is “too early or too....
Wells Fargo had announced earlier in the year that they planned to offer cryptocurrency investments to clients. Something that was referred to as a “professionally managed” cryptocurrency investment. Now the bank has announced that it will begin offering cryptocurrency exposure to its high net worth clients. The Wells Fargo Investment Institute had been working on a way for it to be able to best offer its clients an option to invest in cryptocurrency. Following a re-evaluation on the bank’s stance on crypto. “We think the cryptocurrency space has just kind of hit an evolution and....
Wells Fargo is the next major banking and financial services provider to join the mix of offering crypto assets. The news comes after last week’s report that Swiss-based institution UBS Group AG was looking to make a similar move. Wells Fargo’s Change In Perspective Just a few years ago, Wells Fargo was banning credit card […]