BTC $40,000!Wells Fargo, one of the largest banks in the world, gave the good news!
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Image:https://en.m.wikipedia.org/wiki/Wells_Fargo
The company, which previously made negative statements about cryptocurrencies, will now provide crypto services to its wealthy customers. This year, we've seen a lot of companies make U-turns that have been very harsh on crypto in the past.
✅Wells Fargo Launches Crypto Service
Wells Fargo, the 30th largest bank in the world, will now provide crypto money services to its wealthy customers. The news, passed by Insider at the last minute, caused Bitcoin (BTC) to quickly reach the 40,000 limit. On the Binance exchange, Bitcoin (BTC) finds buyers at $ 40,000. The price, which has been consolidated for a long time, may remain above 40,600 with the support of such news. In this case, $42,000 would be the first target.
The head of the bank made extremely negative statements about cryptos. However, his mind seems to have changed. Wells Fargo, which now sees cryptocurrencies as an investable option, will be offering this service to its wealthy customers. Investors wondering why Bitcoin (BTC) is rising were shocked by the Wells Fargo news.
It was known that the Wells Fargo Investment Institute, the investment-research division of Wells Fargo Wealth and Investment Management, started working in this direction. However, the news was confirmed a few minutes ago by the company spokesperson.
The company manages nearly $2 trillion in assets as one of the largest wealth managers in the United States. The biggest contribution to Wellf Fargo's crypto-integrated work belongs to Greg Maddox, the head of the company's research team.
The statements of John LaForge, head of asset strategy in December 2020, were on the agenda like a bombshell. The president, who said that the bank will definitely not enter the crypto space in 2021, seems to have taken his word these days.
✅Mainstream Runs To Crypto
JPMorgan announced last week to its financial advisors that they will be able to offer crypto services for their wealth management clients. The largest American bank to offer such a wide range of retail crypto services was JPMorgan.
The fact that price volatility has decreased compared to previous years attracts institutional investors to this area. Markets, which used to be much more volatile, scared banks. Bitcoin price volatility had 160% volatility between 2010 and 2015, which has halved over the past four years.