Bank of America identifies 20 high-profile US companies with exposure to cryptocurrencies : btc

Bank of America identifies 20 high-profile US companies with exposure to cryptocurrencies : btc

 

These companies with exposure to digital assets and crypto have stocks rated “Buy” or “Neutral” by Bank of America.

Walt Disney, Fox Corporation and JP Morgan are among a list of 20 publicly traded US companies with some level of exposure to digital assets and crypto, according to data from Bank of America or BofA.

According to a BofA report released Monday, companies like Morgan Stanley, Signature Bank, and Warner Music Group also have some exposure to digital assets.

In total, the 20 firms identified by BofA have their shares rated “Buy” or “Neutral” by the second largest bank in the United States by assets under management.

As part of the report, BofA classified these companies as individuals seeking significant market value growth by interacting with digital assets.

The documents recently published by BofA offered a bullish outlook for the development of cryptocurrencies, including non-fungible tokens, or NFTs, and decentralized finance, or DeFi.

The BofA also argued that the digital asset space could not be ignored for long and that decentralized technology will continue to pervade various aspects of human life.

“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 gasoline or pizza, ” an excerpt from the report reads.

However, BofA identified regulatory uncertainty as one of the biggest short-term hurdles for the nascent digital asset space.

Cryptocurrency laws continue to be a focus of attention for regulatory agencies around the world, with a mix of favorable and strict measures being adopted by financial watchdog agencies in various jurisdictions.

In the US, several lawmakers have called for stronger crypto regulations that critics say could stifle innovation in the US The banking giant also seized the occasion of the report’s release to launch its digital asset research division. . In fact, in July, Cointelegraph reported that the BofA was preparing to create a cryptocurrency research team.



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