A lot has changed since I first started covering Bitcoin (BTC) in 2012. A market once relegated to the deepest corners of the internet has now spawned a global revolution that has forced corporations and governments to form an opinion on digital assets. Now, Wall Street is chiming in, with analysts at major banks increasingly convinced that crypto is a maturing asset class with long-term potential.
That was the general takeaway of a new report from Wells Fargo’s research division. The report’s bullish undertones are truly remarkable when you consider how big banks treated Bitcoin just a few years ago. Perhaps they learned not to take cues from Jamie Dimon, whose JPMorgan Chase (NYSE:JPM) was outed for massive money laundering in 2020. But please tell me how Bitcoin is so dangerous.