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Bank of America values Bitcoin

18 May, 2014

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.

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