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While there is a simple click option available to insert a bullet in Google Docs, there is no easy way to insert bullets in Google Sheets. Now the reason could be that the need for bullet points is less in Google Sheets.

Google Sheets can be used to store various types of data. It could be Names, Address, long form text, links, etc. In most of the cases, when the text in the cell is long and goes out to the cell, there is a need to wrap it within the cell.