Part 4/12:
A striking example of changing perceptions involves Wells Fargo. Back in 2020, the bank closed accounts of U.S. customers engaged in Bitcoin — a classic "fight you" stance based on regulatory and risk concerns. Fast forward four years, and Wells Fargo is now a Bitcoin buyer, having added it to its asset portfolio as the third-largest bank in the United States.
This shift not only reflects increasing institutional acceptance but also highlights the irony that banks which initially sought to suppress Bitcoin are now embracing it as a treasury asset. Such developments reinforce the importance of decentralization in safeguarding against reliance on traditional financial institutions, many of which can change allegiances unexpectedly.