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Bank of America values Bitcoin

5 Dec, 2013

Bank of America becomes the first major bank to begin analyst coverage of Bitcoin. David Woo, FX and Rate Strategist for Bank of America, declares that Bitcoin has a maximum market capitalization of $15 billion and one Bitcoin has a maximum fair trade value of $1,300:

We believe Bitcoin could become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money-transfer providers.