Bitcoin Prices: Bitcoin expected to hit 130,000 this year and major banks will have to accept cryptocurrency payments, says Bank of America CEO Brian Moynihan
Will US banks now allow cryptocurrency transactions?
This phenomenon will then increase demand for cryptocurrencies across the United States, and will extend to major parts of Europe and Asia. As of now, the price of Bitcoin is just under $105,000 per token, but the financial expert opines that it may soon reach $130,000 in 2025 itself.
According to a Quartz report, the Bank of America CEO believes that if regulators allow it, cryptocurrencies may soon become an enthusiastic part of banking transactions, and the US banking industry will easily welcome this move with open arms in the near future.
Banks have avoided the cryptocurrency scene so far, but why?
US banks have mostly avoided allowing customers to indulge in cryptocurrency-based retail transactions so far. Although their institutional trading and financial management wings have traded on US stock markets for Bitcoin ETFs, they have not brought cryptocurrency trading into the holding sector, especially citing concerns about criminals and scammers.
This has included the likes of JPMorgan Chase & Co., Bank of America, Goldman, and others. But it now appears that things may change soon.
FAQ:
How much is it? Bitcoin prices at this point?
Currently, Bitcoin prices are around $105,000 per token. Is Bank of America led by Jamie Dimon?
Jamie Dimon has no affiliation with Bank of America. He is currently the CEO of JPMorgan Chase & Co.
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