Bank of America Says the Only Good Reason for Holding Bitcoin Is ‘Sheer Price...
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 diversification benefits and is “impractical as a store of wealth or payments mechanism.” Bank of America Sees One Good Reason to Own Bitcoin A Bank of America team led by strategist Francisco Blanch said in a report published Wednesday that there is “no good reason to own bitcoin....
Related News
Bank of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon both agree that the U.S. economy is doing well and consumers are in good shape. “The consumers basically have more money in their accounts by multiples than they did pre-pandemic,” said the Bank of America chief. Bank of America’s CEO: US Economy Is in ‘Pretty Good Shape’ Bank of America CEO Brian Moynihan said at the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., last week that the U.S. economy is in good shape despite inflation, jittery markets,....
It looks like 2017 called and wants its Bitcoin condemnation back, with a Bank of America analyst reheating some long standing criticisms of BTC for its clients. Bank of America analyst Francisco Blanch has slammed Bitcoin as "exceptionally volatile", "impractical" and an environmentally disastrous asset that's useless as a store of wealth or an inflation hedge.For good measure Blanch also asserted the cryptocurrency is an impractical method of payment as it can only handle 1,400 transactions per hour compared to the 236 million transactions processed by Visa.The report — which echoes the....
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” on cryptocurrencies and the technology behind them. Bank of America (BOFA) has created a new team dedicated to researching cryptocurrencies, according to an internal memo seen by Bloomberg. A spokeswoman for the bank confirmed the contents of the memo. The new crypto team will be led by Alkesh....
Bank of America Corp. has assembled a new team of experts to study cryptocurrencies, led by Alkesh Shah. Bank Of America Puts Together Crypto Team According to a report from Bloomberg on Thursday, Bank of America has formed a cryptocurrency research team in an attempt to profit on the growing interest in the digital asset […]
Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said.
US Economy Heading Into a Recession This Year, Says Bank of America
Bank of America’s economists now expect a recession in the U.S. this year. In a report published Wednesday, they explained: “Our previous baseline outlook for the U.S. economy featured a growth recession. But a number of forces have coincided to slow....