Cryptovaluta's:  11,089Beurzen:  391Marktkapitalisatie:  €1,315,565,320,138Vol. 24u:  €68,943,918,647Dominantie:  BTC: 48.4% ETH: 17.3%ETH Gas:  19 Gwei
Cryptovaluta's:  11,089Beurzen:  391Marktkapitalisatie:  €1,315,565,320,138Vol. 24u:  €68,943,918,647Dominantie:  BTC: 48.4% ETH: 17.3%ETH Gas:  19 Gwei

On heels of Morgan Stanley boost, BTC trashed by Bank of America, Investopedia

HoofdpuntenNieuwsOn heels of Morgan Stanley boost, BTC trashed by Bank of America, Investopedia

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On heels of Morgan Stanley boost, BTC trashed by Bank of America, Investopedia

Modern Consensus.4 months ago
Gepubliceerd op March 18, 2021 05:04 GMT+0bijgewerkt op March 18, 2021 05:59 GMT+0

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Shortly after Morgan Stanley gave Bitcoin an implicit endorsement and price boost to Bitcoin by offering some wealthy investors access to cryptocurrency funds, Bank of America analysts attacked it and a survey of sophisticated investors said the cryptocurrency was in a bubble.

According to financial news site The Street, BoA analysts on March 17 called Bitcoin “impractical as a store of wealth or payments mechanism,” adding, that there is no good reason to invest in Bitcoin “unless you see the price going up.”

In the report, “Bitcoin’s Dirty Little Secrets,” the analysts argued that those price rises were driven by nothing more than institutional investors like MicroStrategy, PayPal, and Tesla making a splash by announcing big purchases. It said: 

“[T]he...