The Bank of America has argued that is does, in fact, see the value of cryptocurrencies.
In Brief:
BoA said in its Global Cryptocurrencies and Digital Assets Report that the blockchain industry create value.
“We disagree that blockchains and the applications that run on top of them have no intrinsic value”, says the bank.
The report notes this in response to this comment being heard regularly from institutions.
What does this mean?
The report is responding to common crypto scepticism but notes that not only the blockchain platform, but the cryptoassets it enables, do create value despite being “unpredictable”.
