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.
Bank of America asked 200 professional investors with $533 billion in assets under management about their opinions on Bitcoin.
Nearly 75% of professional investors see Bitcoin as bubble: Survey
New research from the multinational investment bank confirms what many of us knew all along: Investors should never try to time the market.
Bank of America report extols the virtues of HODLing
Bank of America strategists have estimated that it takes in-flows of just $93 million to move Bitcoin’s price by one percent.
Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%
“Long Bitcoin” has once again flipped “long tech” as the most crowded trade based on Bank of America's recent fund manager survey.
Bitcoin overtakes tech as most crowded trade, says Bank of America survey
Bitcoin made a swift 20% recovery from the weekend’s bloodbath, while American banks prepare to post major losses in their upcoming quarterly reports.
Bitcoin price climbs 20% overnight as US banks brace for 40% profit cut
Asset managers around the globe are losing confidence in the dollar, encouraging them to seek out inflation-resistant investments for their clients.
Bitcoin the third 'most crowded trade' in global fund manager survey
Bitcoin surged from $190 billion to around $280 billion in recent months, surpassing some big-name companies, including banks, by market capitalization.
Bitcoin at $15K is now bigger than PayPal, Coca-Cola, Netflix, Disney