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Mike Coyler Thinks Renewable Energy Can Play a Role in BTC’s Future

Bitcoin has been taking a lot of guff in that it allegedly leaves behind a serious carbon footprint. Many new reports have emerged over the past week claiming the process of extracting new coins does heavy damage to our environment and that it uses more energy than various countries. However, according to figures like Mike Coyler – chief executive of Foundry – bitcoin can somehow serve as a link between present energy and renewable energy, and perhaps the nasty,...

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Bank of America Condemns Bitcoin for Its Alleged Energy Use

There is a long-lasting argument in the world of crypto that bitcoin is somehow negative for our environment. That it utilizes too much electricity, and as a result, our atmosphere is likely to take a real kick in the rear at some point in the future. Now, that argument is being pushed further, as data from Bank of America suggests the mining sector utilizes more energy than American Airlines, a company that flies more than 200 million people across the country each...

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Bank of America Suggests There’s No Good Reason for Owning BTC

Bank of America is clearly no fan of bitcoin. In a recent statement, the financial giant claimed that the only reason people were buying it was because the price keeps going up. Bank of America: Bitcoin Isn’t All It’s Cracked Up to Be Over the past year, several new arguments have been introduced suggesting why people are suddenly crazy about owning bitcoin. The idea that it’s a hedge tool of some kind or that it’s a store of wealth has gotten a lot of people interested....

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Bitcoin is Too Volatile, Impractical, and Fails as a Store of Value: Bank of America

While Morgan Stanley and JPMorgan have taken a more pro-BTC approach, another giant US financial institution, Bank of America, has issued a report bashing the asset. In it, researchers called bitcoin impractical, exceptionally volatile, and questioned its store of value status.BoA Slams BitcoinCited by the Financial Times, the Bank of America’s report on bitcoin took a stab at several attributes, including its highly volatile nature. The researchers claimed that this “exceptional volatility”...

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Long Bitcoin Unseats Tech Stocks as the Most Crowded Trade in January, BofA Reports

Trading above $35,000, Bitcoin continues to pass milestone after milestone as reports show that the cryptocurrency received the most capital inflow this month compared to tech stocks and traditional investments. Long Bitcoin Wins Most Crowded TradeA recent survey conducted by the Bank of America on fund managers with over $500 billion in AUM reveals that investors are bullish on Bitcoin’s price in the long term. The study shows that “long bitcoin” dethroned “long tech” as the most crowded...

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Bank of America: The S&P 500 Can Plunge To New Lows Over The Coming Months

The S&P 500 lost over 30% in March in a few days of trading. The drop was primarily attributed to the spread of the novel coronavirus (COVID-19) and the effect it had on economies. The index has since recovered and gained more than 500 basis points but is still a long way to go. Now, however, the Bank of America says that the S&P 500 can mark new lows if the current volatility continues for much longer. Volatility Spells Trouble For The S&P 500 According to a recent report, a...

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Fed Can’t Print Gold: Bank of America Predicts Gold Price To Hit $3,000 In 2021

Bank of America (BofA) has a bullish view on gold and expects the prices of the precious metal to hit the $3,000 mark per ounce within the next 18 months, according to the bank’s latest report titled “The Fed can’t print gold.” Per the report, gold is the “ultimate store of value,” and the prices have performed well over the last 15 months against other asset classes, even though the bullion recorded a hard sell-off in March. The asset traded around $1,678 today, representing 11% growth this...

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Bank of America (BAC) Stock Price Down 3.23% as Its Small Business Loan Portal Opens

Bank of America (BAC) has opened its small business loan portal. This comes as its stock is down in the market due to the COVID-19 situation.Bank of America Corporation (NYSE: BAC) stock price has fallen since the opening bell of the New York Stock Exchange (NYSE). Bank of America (BAC) stock has dropped to around $19.90, -$0.66 (3.23%).This comes at a time that the bank is seemingly “all-American” in its response to the business malaise that is currently occurring due to COVID-19.Bank of...

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Nike Stock Jumps Over 10% Today as Retailer Enjoys 36% Online Sales Growth

Nike reported quarterly earnings that have topped analysts’ expectations boosted by the company’s digital business and its success in North America. Nike stock is over 10% up today.On March 24, Nike Inc (NYSE: NKE) reported its earnings that topped analysts’ expectations, its stock reacted to the news. The quarterly earnings beat expectations due to a boost that came from the company’s digital business and significant growth in North America. These developments helped mitigate weakness in...

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Bank of America Says Recession Is Here, Coronavirus Death Toll Tops 10K, 240K Infected

More than 245,000 people have now been confirmed with the coronavirus globally, of which at least 85,000 have recovered from COVID-19, while more than 10,000 have died. Bank of America has already stated that the recession is here.The number of people infected with the novel coronavirus surpassed 200,000 yesterday and it’s still rapidly growing. At 8:18 am CET so, around 12 hours after those numbers were announced, this number grew to already 245,997. Bank of America announced the beginning...

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