The Bank of America has released a report with data on publicly traded US companies with exposure to crypto and digital assets. The prominent ones among them are firms such as Walt Disney, Fox corporation, Signature Bank, Morgan Stanley, and JP Morgan.
The report put out by the Bank of America highlights that the stocks of the 20 firms identified by the bank have been rated either as “Buy” or “Neutral”.
Bank of America’s report brought out that the above firms are aiming to significantly grow their market value through investments in digital assets.
Bank of America, in its report, projected a bullish outlook for digital assets such as cryptocurrencies, non-fungible tokens(NFTs) and decentralized finance(DeFi).
The bank opined that digital assets could not be ignored any longer. The report added that decentralized technologies were here to stay and that these technologies will soon engage with more aspects of everyday human life.
The report predicts that in the not too distant future people will contribute to a more widespread use of blockchain technology. People will use it to unlock mobile phones, purchase equity, invest in homes, receive dividends, buy mortgages and even pay for daily utilities such as gas and food.
The report, however, provides a cautionary note regarding the uncertainties around regulation. The regulatory framework could prove to be the principal near-term hurdle for the growth of the digital asset domain.
The regulatory authorities around the world are focused on drafting crypto laws that are favorable and yet, stringent enough to protect the interests of the investors.
Policymakers in the US recommend stringent crypto regulations. However, this has attracted criticism – warning that too much regulation could hinder innovation. Bank of America also used the occasion of the launch of the report to announce the setting up of a digital asset research division.