Financial institution of America CEO Brian Moynihan stated that main monetary establishments will quickly be pressured to simply accept cryptocurrencies like Bitcoin and Ethereum for mainstream transactions, in a stunning flip of occasions.
This shift, Moynihan believes, might be pushed by regulatory modifications and a surge in crypto demand throughout the globe. He predicts a optimistic future for Bitcoin, anticipating the worth to rise to $130,000 this 12 months, a pointy improve from the present worth.
Historically, US banks have been reluctant to facilitate retail crypto transactions, citing fraud and prison exercise. Moynihan believes that this stance is more likely to change as regulators open the door to larger crypto integration into the monetary system.
This might be a turning level for the cryptocurrency market, ushering in a brand new period of mainstream adoption and legitimizing cryptocurrencies throughout the conventional monetary framework.
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