The bitcoin, the world’s largest cryptocurrency, recovers $ 50,000 after scoring 5 percent thanks to the analysis carried out on her by Bank of America.
According to the US investment bank, bitcoin has already reached “too large a size to be ignored.” In addition, the entity estimated that “it could form a completely new asset class.”
The document explains that the universe of crypto assets has a market value of 2 trillion dollars and more than 200 million users.
“Bitcoin was designed as money, but is increasingly seen as” digital gold. ” Ethereum created a generalized platform powered by smart contracts, which allows the development of hundreds of applications that could transform finance, insurance, legal, real estate and many other industries “, insist from BofA.
The future is in the hands of the blockchain
Digital assets that allow you to create applications, as Apple’s iPhone did with its App Store, are gaining more value. “Our opinion is that there could be more chances of which the skeptics expect, “they explained at the US bank.
In the near future, you can use blockchain technology to unlock your phone; buy a share, a house or a fraction of a Ferrari; receive a dividend; borrow, lend, or save money; or even pay for gas or pizza.
However, Bank of America also recognizes that there are regulatory risks at a global level, “impacting growth and valuations,” the document concludes.
The price of bitcoin affected by China
In recent weeks the cryptocurrency was affected by China’s decision to declare all cryptocurrency transactions illegal in its territory.
On Friday began a path of recovery after the words of Jerome Powell, the president of the Federal Reserve, who assured that he does not plan to prohibit these assets.
Another of the main cryptocurrencies on the market, ether, also rises, just over 3 percent, to $ 3,446.
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