Bank of America Global Research recently revealed its views on Bitcoin and cryptocurrencies earlier this week with a report dubbed “Digital Assets Primer: Only the first inning.” The research group was headed up by chief strategist Alkesh Shah who went into the nitty details about the “new asset class,” Bitcoin and cryptocurrencies are “too large to ignore,” wrote strategists including Alkesh Shah and Jessica Reif Ehrlich. “Our view is that there could be more opportunity than skeptics expect.”
The report shows that enthusiasm for Bitcoin and cryptocurrency is “gaining traction on Wall Street despite its many controversies,” Bloomberg reported.
BofA also said that “more regulation could be a positive for crypto in the long run. Once rules are established, the uncertainty over how to invest in crypto will be lifted.”
Why do banks want to regulate Bitcoin so badly?… oh right, because it’s their replacement.