Bank of America conducted a research study of cryptocurrencies and digital assets due to the increased institutional interest and increased appetite among individual clients for these currencies.
According to Arab Net, head of global research at Bank of America Securities, Candice Browning, told Bloomberg: If you look at the number of companies that mention cryptocurrencies in their earnings calls, This number increased from about 17 last year to about 147 in the last quarter.
Bitcoin doesn't stop anymore, it's a digital asset creating a whole ecosystem of new businesses, new opportunities and new applications,' Browning added.
Following a downtrend, Bitcoin last week saw one of its biggest daily gains in months after Federal Reserve Chairman Jerome Powell's comments that the central bank will not ban cryptocurrencies. And in a shocking run, other digital currencies have followed suit.
This is growing, this is the trend, not just Bitcoin,' Browning said.
The company explained that BofA's cryptocurrency research coverage is headed up by former technology analyst Kish Shah.
