Bank of America identifies 20 high profile US companies with crypto exposure

Oct 6, 2021 | CoinTelegraph News | 0 comments


These companies with crypto and digital assets exposure have stocks rated as “Buy” or “Neutral” by Bank of America.

Walt Disney, Fox Corporation, and JP Morgan are among a list of 20 publicly traded U.S. companies with some level of exposure to crypto and digital assets, based on data by Bank of America, or BofA.

According to a BofA report published on Monday, companies like Morgan Stanley, Signature Bank, and Warner Music Group also have some exposure to digital assets.

In all, the 20 firms identified by BofA have their stocks rated as either “Buy” or “Neutral” by America’s second-largest bank by assets under management.

As part of the report, BofA categorized these companies as seeking significant market value growth by interacting with digital assets.

According to a previous Cointelegraph report, BofA’s recently published document offered a bullish outlook for cryptocurrencies including nonfungible tokens, or NFTs, and decentralized finance, or DeFi.

BofA also argued that the digital asset space could not be ignored for long and that decentralized technology will continue to permeate several aspects of human life.

“In the near future, you may use blockchain technology to unlock your phone; buy a stock, house or fraction of a Ferrari; receive a dividend; borrow, loan or save money; or even pay for gas or pizza,” an excerpt from the report reads.

Related: Gensler confirms SEC won’t ban crypto… but Congress could

However, BofA identified regulatory uncertainty as one of the biggest near-term hurdles for the nascent digital asset space.

Crypto laws continue to remain a focus of regulatory agencies around the world with a mixed bag of favorable and stringent measures being adopted by financial watchdog agencies across several jurisdictions.

In the U.S., several policymakers have called for more robust crypto regulations that critics say could stifle innovation in America. The banking giant also used the occasion of the report’s publishing to launch its digital asset research division. Indeed, back in July, Cointelegraph reported that BofA was gearing up to create a crypto research team.

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