05 Dec '13, 8pm

Bank of America Analysts Say Bitcoin's Value Is $1300: Big day for Bitcoin on Thursday. China issued

Big day for Bitcoin on Thursday. China issued guidance on the currency telling its citizens that they’re welcome to buy and sell the cryptocoin but warning banks and payment companies away from dealing in it. Meanwhile, in the U.S., currency analysts for Bank of America Bank of America Merrill Lynch have begun to cover Bitcoin and issued a comprehensive first report . Assessing its combined worth as a store of value (like gold or silver), payment rail (like Western Union Western Union or MoneyGram) and as a medium of exchange to, say, conduct online shopping, the analysts set its maximum market capitalization at $15 billion, meaning one Bitcoin, given the current supply, would have a fair market value of $1,300 USD. (That’s slightly below the current aggregate value of $1,078 on various exchanges.) “We believe Bitcoin can become a major means of payment for e-commerce and ...

Full article: http://www.forbes.com/sites/kashmirhill/2013/12/05/bank-o...

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siliconnews.es 07 Dec '13, 9am

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