BNY Mellon, the country’s oldest banking institution, founded in 1784, today released a March 2021 report covering various bitcoin valuation frameworks. This follows the bank’s announcement in early February of its intention to create a unit of digital assets. The report, titled “Blending Art & Science: Bitcoin Valuations,” compared the attributes of bitcoin to other currencies and monetary assets, offering new insight into how one of the country’s oldest financial institutions views cutting edge. currency.
The report cites popular models such as Plan Bthe stock-to-flow cross-asset model (S2FX), and also explored Bitcoin’s evolutionary narratives over time, a concept initially explored by Nic carter in an article titled “Visions Of Bitcoin”.
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While the report gave no definitive price targets or expectations for bitcoin’s future trajectory, it was another positive endorsement from Wall Street, the country’s oldest banking entity.
