In a recent research note, Bank of America, one of the leading banking institutions in the United States by management assets, recently. comparison Bitcoin to Print Press and Ford Model T in terms of its sabotage capabilities.
When it comes to the twenty -first century, Bitcoin is believed to be equally with technologies such as social media, iPhone, and of course artificial intelligence (AI).
Although Bitcoin naturally faced a lot of hostility from the banking sector, the Bank of America was somehow optimistic about the encrypted currency throughout 2013. At the time, the bank’s client’s note stated that the cryptocurrency has a lot of “growth potential”.
In January, Branica CEO, Brian Mounehan, said that he will separate Stablecoins from the rest of the cryptocurrencies. He also expected the banking sector to move to encryption “by transactions.”
Last March, Wall Street Journal (WSJ) reported that Bank of America was exploring the launch of Stablecoin along with other American banking institutions in order to face the increasing competition from the original Cryptocurrency.
In February, the bank revealed that it had some simple exposure to the money on the stock exchange (ETF).
It should be noted that Bank of America has already has hundreds of patents that focus on Blockchain technology.
