Bank of America describes Bitcoin as the most disruptive innovation in a thousand years and plans to promote cryptocurrency payments and stablecoins once regulations are clear. (Background: Where might Bitcoin's peak be this cycle? Multiple valuation models show you.) (Context: James Wynn: Bitcoin's market share will reach new heights, rising to at least $120,000 to $140,000 before the altcoin season.) Wall Street's attitude towards crypto assets is rapidly shifting. According to a report by Bitcoin.com on June 17, Bank of America's global research department has listed Bitcoin among the most disruptive technological innovations of the past thousand years, alongside printing technology and the internet. Bank of America: Bitcoin is on par with printing technology and the internet. The long-term trend chart released by the bank indicates that Bitcoin is located in the steepest section of the technology acceleration curve, labeled as 'systemic innovation.' The report states that Bitcoin challenges fiat currency monopolies through a decentralized network, having generated over $2 trillion in the digital asset market. Bank of America does not currently offer spot trading. CEO Brian Moynihan stated at the Davos Forum in January, 'Once the rules are clear, we will quickly integrate crypto payments into our customers' everyday banking services.' He also revealed that the team is evaluating a dollar-pegged stablecoin solution, with progress depending on whether Congress passes the GENIUS Act. This bill requires stablecoins to be 100% backed by highly liquid assets and authorizes the Federal Reserve to oversee them. According to public Senate documents, the GENIUS Act has been rescheduled for this session's agenda, with bipartisan support, and may be voted on as soon as this quarter. Traditional finance's attitude towards cryptocurrencies is also warming. Deutsche Bank and Citibank have recently submitted similar stablecoin patents; S&P indices show that the number of institutions holding Bitcoin has increased by 42% over the past year. Related reports: Annual salary not reaching 1.5 million! A man in Taichung was discouraged from applying for a new Green Secure loan by a public bank: 'You are too poor.' Not just the Federal! Banks are considering 'blocking deposits and withdrawals to exchanges'; how to play crypto in Taiwan? Bank of America CEO: Developing its own stablecoin, Tether's CEO subtly challenges: 'It's time for a showdown.' 'Bank of America: Bitcoin is a thousand years of 'disruptive innovation,' comparable to printing technology!' This article was first published in BlockTempo (the most influential blockchain news media).

#BTC