Bank of America

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Hundreds of Banks in US to Allow Customers to Buy, Sell, Hold Bitcoin Through Existing Bank Accounts

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Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they see funds moving from bank accounts to crypto exchanges. … Read more

Bank of America Survey: 74% of Fund Managers See Bitcoin as a Bubble

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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 a sector is in a bubble. Bank … Read more

Bank of America Says the Only Good Reason for Holding Bitcoin Is ‘Sheer Price Appreciation’

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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 … Read more

Bitcoin Now the Most Crowded Trade – Labeled a ‘Bubble’ in Bank of America Survey

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According to findings of a recent Bank of America (BOA) survey, buying bitcoin has now surpassed tech stocks as the most crowded trade. This new ranking means tech stocks have been relegated into second place for the first time since October 2019. Bitcoin Bubble Ranking Still, a majority of the interviewed fund managers believe bitcoin … Read more