According to statistics from Bank of America, Bofa, Walt Disney, Fox Corporation, and JP Morgan are among a list of 20 publicly listed US firms having some level of exposure to cryptocurrencies and other digital assets. According to a BofA research issued on Monday, companies including Morgan Stanley, Signature Bank, and Warner Music Group have some exposure to digital assets.
All 20 of BofA’s listed businesses’ stocks are rated “Buy” or “Neutral” by America’s second-largest bank by assets under management. As part of the analysis, BofA identified these companies as targeting large market value increases through engaging with digital assets.
A bullish forecast for cryptocurrencies, including nonfungible tokens, or NFTS, and decentralized finance, or Defi, was recently released by BofA.
BofA also stated that the digital asset space can no longer be overlooked and that decentralized technology will continue to infiltrate many aspects of human life. “In the near future, you may use blockchain technology to unlock your phone; acquire a stock, property, or fraction of a Ferrari receive a dividend; borrow, loan, or save money, or even pay for gas or pizza,” according to an excerpt from the research.
Regulatory uncertainty, however, is one of the biggest near-term hurdles for the fledgling digital asset market, according to BofA.
Cryptocurrency regulations continue to be a focus of regulatory authorities throughout the world, with a combination of positive and harsh measures being enacted by financial watchdog agencies in a variety of nations.
Several officials in the United States have asked for more stringent crypto laws, which opponents believe would hinder innovation in the country. The introduction of the banking giant’s digital asset research section coincided with the publication of the reports.