Bank of America’s Dirty Little Secret 🤑

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I was sipping my morning coffee when I stumbled upon a research note from Bank of America that left me wondering if they’d finally gone rogue. It seems they’ve decided to put Bitcoin on the same pedestal as the printing press. Yes, you read that right – the printing press! That thing that changed the course of human history and allowed us to mass-produce our favorite memes 🤣.

But wait, it gets better. They’re also comparing it to the Ford Model T, because what’s more revolutionary than a car that your grandparents used to make out in? 🚗 And if that’s not enough, they’re throwing in some 21st-century heavy hitters like social media, the iPhone, and artificial intelligence. Because, you know, Bitcoin is basically just a super-smart robot that’s going to take over the world 🤖.

Now, I know what you’re thinking – “But David, Bank of America has always been a bit of a Bitcoin hater.” And you’re right, they have been. But it turns out they were secretly bullish on it all the way back in 2013. Who knew? 🤫 They even wrote a client note saying it had “growth potential.” I guess that’s banker speak for “we’re going to make a ton of money off this thing.”

Fast forward to January, and Bank of America CEO Brian Moynihan is separating stablecoins from the rest of the crypto pack. Because, you know, stablecoins are like the cool kids in school – they’re not as wild and crazy as the rest of the cryptocurrencies 🤪. And he’s predicting that the banking sector will make moves into crypto “from a transactional side.” Because, you know, they want to get in on that sweet, sweet transactional action 💸.

Last March, the Wall Street Journal reported that Bank of America was exploring launching a stablecoin with some other US banking institutions. Because, you know, they don’t want to get left behind in the crypto dust 🚀. And in February, they revealed that they had some minor exposure to Bitcoin-based exchange-traded funds (ETFs). Because, you know, they want to dip their toes in the crypto waters without getting too wet 🌟.

And let’s not forget that Bank of America already has hundreds of patents focused on blockchain technology. Because, you know, they want to be the cool kid on the blockchain block 🤓.

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2025-06-16 19:29