Viewpoint: The crypto market is in the "Internet 1996 phase," and institutional investors should not only focus on BTC

BlockBeats News, September 21st: The U.S. investment bank Jefferies stated in a report to large institutional investors that the current stage of cryptocurrency development is similar to the internet in 1996 and still has vast room for growth.

The analysts pointed out that if the market focuses too much on Bitcoin's price, it may overlook the disruptive potential of blockchain technology in various industries. Some institutions have already begun positioning themselves through ETFs and Digital Asset Treasury (DAT) companies. Jefferies advised investors to follow the investment strategy of the early internet era, emphasizing long-term utility of projects and selectivity.

By analogizing the current cryptocurrency market to "1996," Jefferies has painted a powerful and concrete picture of Wall Street in the early internet era—implying that the next wave of cryptocurrency growth is just beginning.