Wells Fargo finally published a report to investors claiming that after twelve years BTC and crypto is not fad. The total market cap has exceeded 550 billion USD and BTC has been in existence over 11 years now. This is not something to go away. While the bank stays away from actually recommending investing and keeping portfolios in crypto and qualifying BTC as an asset class, it admits that the crypto universe could become investment worthy one day. The old annoying volatility argument persists in the bank's report.
I believe this argument is getting old and new arguments showing crypto qualities as being store of value, payment systems and decentralized environments. Wells Fargo is perhaps the first major traditional bank to report such a thing to investors, many of which would happen to be retail investors. This is another huge milestone in achieving the wide mainstream acceptance of BTC and crypto. As BTC is scarce in its nature, I believe this developing situation becomes another major price support and calls for continuation of the bull run.
Please read in detail the interesting piece of reporting by Andrew Hayward:
Wells Fargo: Bitcoin and Other Cryptocurrencies Are No Fad
