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Bank of America Sees Benefits in Adopting Bitcoin as Legal Tender in El Salvador
3.8.2021
Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings...
Bank of America Establishes Cryptocurrency Research Team
9.7.2021
Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership”...
Bank of America Survey: 74% of Fund Managers See Bitcoin as a Bubble
19.4.2021
The most recent Bank of America Fund Manager Survey shows that about three out of four professional investors think that bitcoin is a bubble. The fund managers also rated bitcoin second on the list of the most crowded trades. Recently, investment bank JPMorgan also warned that cryptocurrency as...
Bank of America Says the Only Good Reason for Holding Bitcoin Is ‘Sheer Price Appreciation’
19.3.2021
Bank of America sees no good reason to own bitcoin other than “sheer price appreciation.” The firm’s strategists found that the cryptocurrency’s “inflation hedging benefits are not particularly apparent.” Bank of America also claims that bitcoin does not offer...