Almost all major banks in the US have talked about Bitcoin and its bright future. Yes, some of them have been negative as well, but that’s the small part. Bank of America is also one of the positive ones that have been bullish about BTC for a long time. But, recently, a new report suggests that the Bank of America is also bullish on Ethereum, DeFi and NFTs. Well, this is excellent news as a lot of us are invested in these spaces quite heavily.
The recent report from Bank of America
Bank of America’s new report on blockchain and digital assets is very bullish. The Bank had been confused about their take on crypto and BTC in the past, but now that seems to have changed for the better. The report suggests that they think blockchain is the most exciting new market in a long time. And since the report touches DeFi, ETH and NFTs as well, the statement signifies that BOA is bullish about all of them.
It is clear that the report’s idea is to take a look beyond Bitcoin and the vast market. As of now, there are thousands of other coins and NFTs in the market, and even if you don’t consider all of them, at least hundreds of them are really good. So, it will be unwise to ignore them in any way. Ethereum potential and the ability to empower a new era of services and apps with its smart contracts makes it incredibly difficult to be bearish on it.
The future is going to be really bright for blockchain, and we can expect to do a lot of things using it. Even for NFTs, the market has just started to grow, and we can expect a lot more artists to explore the space in the future. The trading volume continues to rise, and so does the demand for exotic and limited NFTs. Considering the growth of the entire digital ecosystem, NFTs will not be left behind in any way. Yes, the Bank cited its concern about the skyrocketing prices of some NFTs. But in the future, we can expect that to change with a more mature market.
What are your thoughts as the Bank of America is bullish on Ethereum? And do you think that DeFi and NFTs are going to have a bright future? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Tweet mocking NFTs gets sold for $5k as an NFT.