Bank of America says crypto winter concerns haven't frozen investor interest

06/28 12:33

Concerns about a so-called ‘crypto winter’ have not frozen investor interest in the sector, Bank of America (BAC) said in a report Tuesday, following its Web3 & Digital Assets Day Conference, which took place last week. It was a consensus view that institutional investors and corporates are preparing to enter the digital assets ecosystem, but remain on the sidelines until a comprehensive regulatory framework is established, the report said. BofA says that digital asset products may attract the first billion users, but the “next billion will likely require improved bridges between the fiat and crypto ecosystems and the creation of a crypto-native ecosystem, in which individuals are unaware of the applications that leverage blockchain technology.” The bank reiterates its view that blockchain technology delivers the most significant evolution of software since the internet, adding that the emerging ecosystem of Web3 applications has the “potential to transform every industry.”
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