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Bank of America slams ‘volatile’ and ‘impractical’ bitcoin

Bitcoin's volatility makes it 'impractical as a store of wealth or payments mechanism'

Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank's analysts said
Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank's analysts said Photo: Getty Images

Analysts at Bank of America have attacked bitcoin as “exceptionally volatile” and “impractical” in a 17 March research note.

In the note, the analysts said there was “no good reason to own bitcoin unless you see prices going up”.

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