RIYADH: Wells Fargo’s investment institute published a special report, Understanding Cryptocurrency, this week. The report aims to try to answer whether it is too early or too late to invest in cryptocurrencies. “We believe that cryptocurrencies are viable investments today, even though they remain in the early stages of their investment evolution,” the Wells Fargo team said. They added: “We recommend professionally managed private placements for now, as the investment landscape is still maturing.” While the research team sees cryptocurrencies at an early stage of investment, but not too early, which is why they emphasize investor education, according to Bitcoin.com. “Cryptocurrencies have been following an adoption pattern similar to other new advanced technologies, such as the internet,” they said. The Wells Fargo analysts added that for today’s investor trying to figure out if we are early or late to cryptocurrency investing, looking at technology investing in the mid-to-late 1990s seems reasonable. “At that time, the internet hit a hyper-adoption phase and never looked back. Cryptocurrencies appear to be at a similar stage today … We are hopeful that greater regulatory clarity in 2022 brings higher quality investment options,” Wells Fargo analysts said. However, the company recommended that: “Cryptocurrency investment options today, however, are still maturing and we advise patience. For now, we suggest the consideration of only professionally managed private placements.” Daily trading Bitcoin, the leading cryptocurrency internationally, traded lower on Monday, falling by 1.04 percent to $42,151 at 1:36 p.m. Riyadh time. Ether, the second most traded cryptocurrency, was priced at $2,860, down by 2.43 percent, according to data from Coindesk. Other news: The Governor of New Hampshire, Chris Sununu announced last week that he has signed an executive order creating the governor’s Commission on cryptocurrencies and digital assets. He also explained that it is a center for financial innovation, and this executive order will reinforce their commitment to attracting high-quality banking and financial businesses in a secure manner. “Federal and state governments must work to bring legal and regulatory certainty to the digital asset industry because clear rules of the road foster technology and innovation,” Sununu said. The committee will hold public hearings to hear testimonies on the evolution of the economics of cryptocurrencies and digital assets. It will also make recommendations for specific modifications and improvements to the laws and regulations applicable to cryptocurrency.