Bank of America has named 20 large companies that have exposure to cryptocurrencies

The second largest bank, Bank of America, continues to publish positive news. In addition to publishing a report identifying BTC as a new large asset class, it has named 20 U.S. publicly traded companies that have some type of exposure to cryptocurrencies.

Bank of America, which criticized the cryptocurrency at the beginning of the year, has begun to significantly change its attitude towards digital currencies in recent weeks. In that report, it stated that the cryptocurrency market was too large to be further ignored and added: ‘In the near future, we will be unlocking phones, buying stocks, homes or fractions of a Ferrari, earning dividends, borrowing money or even paying for refueling or pizza, all thanks to blockchain technology. ”

In its 20 publicly traded companies, which it concluded have some exposure to cryptocurrencies or the cryptocurrency market, it listed the US stock exchange, among others. Coinbase, banks JP Morgan Chase, Morgan Stanley a Signature Bank, payment intermediary PayPal or energy companies Exelon Corporation, NRG Energy a Vistry Energy.

The list also includes companies from the media field – FOX Corporation, Walt Disney or Warner Music Group.

It is not clear from the report what information Bank of America received in connection with these companies and their exposure to cryptocurrencies. The direct holding of BTC on the balance sheet is known from the mentioned Fire only in the case of the Coinbase exchange. JP Morgan Chase offers brokered investments in BTC to its solvent clients, and Morgan Stanley is the second largest holder of GBTC shares through its investment funds, which are a kind of indirect institutional exposure to BTC. PayPal, in turn, offers the purchase, sale and possession of cryptocurrencies.