Analysis
As more and more financial giants set up crypto research teams, experts see this trend continuing to gain traction in the future.
2006
Bank of America News
Bank of America (BofA) is an American financial conglomerate providing a wide range of financial services and is one of the largest bank holding companies in the USA in terms of assets. It was founded in 1904 and currently headquartered in Charlotte, NC. BofA has become the first financial establishment that has included cryptocurrency in a report about forthcoming financial risks. According to Bank of America, cryptocurrency is not just a threat for their budget, but it complicates the work of preventing money laundering. Also, the company has shown its dependence on innovations made in the market of financial services, including blockchain technology, which can demand a large amount of spending for its implementation. Despite the fact that the holding has expressed skepticism about using Bitcoin, Bank of America has registered some cryptocurrency-related patents in order to prevent customer outflow.
- Markets News
The "Oracle of Omaha" now has more companies in his portfolio that have direct/indirect exposure to Bitcoin and similar cryptocurrencies.
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A recent note from Bank of America analysts said that a CBDC would differ from digital currencies currently available because it would be the liability of the Fed, not a commercial bank.
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LinkedIn reports that site-wide job listings relating to crypto are up more than 600% since August last year.
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Mirror opens decentralized blogging to the public, a Bank of America report is bullish on DeFi, and MakerDAO considers climate initiatives.
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These companies with crypto and digital assets exposure have stocks rated as “Buy” or “Neutral” by Bank of America.
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“[Crypto] is a trend that has barely started — money is the easiest application and the Bitcoin use case started there,” said Bank of America.
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“More than 70% of the adult population of El Salvador does not have a bank account,” reads the latest Global Research report from Bank of America. “For that reason, democratizing access to electronic payments, through Bitcoin, has a progressive touch.”
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Candace Browning, the bank's head of global research, described cryptocurrency as "one of the fastest growing emerging technology ecosystems."
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CEOs of major American banking institutions are heading to Washington to face legislators' questions about how they will aid a post-pandemic economic recovery.
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Bank of America noted that trades identified as "crowded" have historically been associated with incoming market tops.
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Joining the Paxos Settlement Service could allow many Bank of America customers to settle stock trades in minutes rather than days.
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Bank of America asked 200 professional investors with $533 billion in assets under management about their opinions on Bitcoin.
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New research from the multinational investment bank confirms what many of us knew all along: Investors should never try to time the market.
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Bank of America strategists have estimated that it takes in-flows of just $93 million to move Bitcoin’s price by one percent.
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