On Thursday Bank of America published a first of its kind research report (PDF) on Bitcoin, the crypto currency that has skyrocketed in value the past couple months, now worth just over $1000. Bank of America concluded that each bitcoin was valued about $1,300 and the entire Bitcoin economy worth close to $15 billion. Bank of America believes that Bitcoin could become “a major means of payment for e-commerce and may emerge as a serious competitor to traditional money-transfer providers,” but still warned about the possibility of speculation leading to a bubble.
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