Bitcoin price may reach $50,000

Ronnie Moas from Standpoint Research sees the possibility of Bitcoin price rising immensely
25 October 2017   589

Founder and director of Standpoint Research Ronnie Moas, who predicted the growth of Bitcoin price to $ 5,000, when it was being traded at $ 2300, now says that its price will jump to $ 50,000 in 10 years.

According to Moas, by 2022 the capitalization of Bitcoin will surpass the capitalization of Apple, which is now estimated to be $ 800 billion.

The founder of Standpoint Research has also added that %95 of 1,000 existing cryptocurrencies seem to be fraudulent schemes and "pump-and-dump scam operations".

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   137

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.