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The representation of the Bitcoin virtual currency is seen on a motherboard in this photo illustration taken on April 24, 2020.
In view of Ruvic | Reuters
Bank of America believes there is only one reason to own bitcoin: speculation that its price will rise.
“Bitcoin has … become correlated with risky assets, it is unrelated to inflation, and remains exceptionally volatile, making it impractical as a store of wealth or a payment mechanism,” Francisco Blanch said. , strategist in commodities and derivatives at the bank. Wednesday in a note to customers.
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