05 Dec '13, 3pm

Bank of America: Bitcoin Has Clear Potential for Growth

Bank of America: Bitcoin Has Clear Potential for Growth

Bank of America has become the first US bank to talk openly about bitcoin, having issued a client note stating that the digital currency has “clear potential for growth”. The news came in a 14-page note sent to clients by Bank of America currency strategist David Woo. He said he believes the maximum market cap of bitcoin is $15bn, or about 1,300 USD per 1 BTC. In the note, Woo pointed out that bitcoin makes sense as a medium of exchange and has the potential to become a major means of payment for e-commerce. It could even emerge as a serious competitor to traditional money transfer providers, Woo wrote. It is interesting to note that Woo unambiguously identified e-commerce as a possible catalyst for growth. E-commerce and mobile commerce are slowly becoming more mainstream and even many traditional retailers are embracing the “click-and-mortar” business model, where they r...

Full article: http://www.coindesk.com/bank-of-america-bitcoin-growth/

Tweets

Bank of America Analysts Say Bitcoin's Value Is...

forbes.com 05 Dec '13, 8pm

Big day for Bitcoin on Thursday. China issued guidance on the currency telling its citizens that they’re welcome to buy an...

Bank of America says Bitcoin could become a 'ma...

theverge.com 05 Dec '13, 5pm

Analysts at Bank of America Merrill Lynch issued the bank's first research report today on Bitcoin, the virtual currency t...

China, Bank of America weigh in on Bitcoin - US...

usatoday.com 05 Dec '13, 10am

Bitcoin tokens in Sandy, Utah. (Photo: Rick Bowmer, AP) Story Highlights Fears of a Bitcoin bubble China bans financial in...

Bank of America deems Bitcoin the next big thing

news.cnet.com 05 Dec '13, 11pm

It appears not only people in the tech world believe Bitcoin is the currency of the future -- one of the US' biggest banks...

Bank of America: Bitcoin Will Be 'Serious Compe...

inc.com 06 Dec '13, 11pm

For the first time since the mysterious Satoshi Nakamoto created Bitcoin in 2009, a major Wall Street bank has issued an o...

Bitcoin Gets Slammed by China as BofA Touts its Potential

Bitcoin Gets Slammed by China as BofA Touts its...

entrepreneur.com 05 Dec '13, 7pm

Following massive interest that has seen Bitcoin 's value increase more than 7,000 percent since the beginning of the year...

Bitcoin Gets Valued: Bank Of America Puts A Pri...

forbes.com 05 Dec '13, 10pm

However, the currency’s volatility is a concern for many regulators and potential investors. In a note yesterday Steven En...

A Major Wall Street Bank Just Initiated Coverage On Bitcoin And Identified A Fair Value

A Major Wall Street Bank Just Initiated Coverag...

businessinsider.com 05 Dec '13, 12pm

Bitcoin, the bizarre electronic currency that seemingly came out of nowhere and has been taking over financial market head...

Bank of America: Bitcoin will be 'serious compe...

inc.com 07 Dec '13, 1am

For the first time since the mysterious Satoshi Nakamoto created Bitcoin in 2009, a major Wall Street bank has issued an o...

Bank of America ve al bitcoin como “un serio competidor”

Bank of America ve al bitcoin como “un serio co...

tecnologia.elpais.com 06 Dec '13, 12pm

Un banco de inversiones habla del bitcoin, la moneda virtual que impera en internet y más allá. Es la primera vez que una ...

Espaldarazo de Bank of America a Bitcoin

Espaldarazo de Bank of America a Bitcoin

siliconnews.es 07 Dec '13, 9am

“Bitcoin tiene potencial suficiente para convertirse en uno de los principales medios de pago para el e-commerce”. Esta es...

Bank of America: La Bitcoin puede convertirse e...

fayerwayer.com 06 Dec '13, 1pm

Analistas de Bank of America Merrill Lynch publicaron un reporte sobre la Bitcoin , concluyendo que tiene el potencial par...

China's central bank warns financial institutio...

venturebeat.com 06 Dec '13, 9am

China central bank People’s Bank, Chinese Ministry of Industry and Information Technology, and another three authorities i...

China central bank warns banks against use of bitcoin

China central bank warns banks against use of b...

in.reuters.com 05 Dec '13, 8am

BEIJING (Reuters) - China's central bank warned on Thursday that financial institutions should not trade the digital curre...