One of the largest banks in the USA, which has previously been hostile towards cryptocurrencies. Bank of America, now he seems to have completely changed his demeanor.
BoA stated that it has analyzed the current trend in the cryptocurrency industry and that the industry has become too big to ignore.
BoA Adopts Bitcoin
Looking at the research published by Alkesh Shah, head of the digital assets strategy department of Bank of America, it is seen that it is emphasized that the crypto money industry is currently advancing with a focus on DeFi and NFT.
BoA’s researcher highlighted that there are more than 221 million users currently using the DeFi service, and underlined that this is an incredible growth rate.
In his related research, BoA emphasized that the DeFi ecosystem received $17 billion in funding in the first half, and this came from institutional investors.
Although the data for the second half of the year has not been finalized yet, it can be said that even the first half will actually be sufficient to show how the sector has grown.
Emphasizing that Bitcoin is now “very important” as the head of this ecosystem, the researcher emphasized that blockchain and cryptocurrencies will soon be used for situations such as unlocking the phone, buying stocks or buying a house.
While all of this can now be done with cryptocurrencies and blockchain, the fact that the once-BTC hostile bank is now making such statements is certainly promising.