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October 06, 2021 at 03:20 PM
Related: Crypto Universe ‘Too Large to Ignore’: BofA Securities
Bank of America announced this week that it will cover digital assets with the publication of a report entitled “Digital Assets Primer: Only the First Inning,” led by Alkesh Shah, head of global cryptocurrency and digital asset strategy.
Digital assets represent a $2 trillion market value with more than 200 million users, and have the potential to transform every industry by improving efficiency and reducing friction across transactions, BofA said. It noted that hundreds of companies are forming within this new ecosystem, creating a new asset class.
“Bitcoin is important, but the digital asset ecosystem is so much more,” Shah said in the announcement. Bitcoin has a market value of some $900 billion, according to the report.
The primer includes U.S.-listed companies with Buy and Neutral ratings in the BofA Global Research coverage universe that have exposure to the digital assets theme.
See the gallery for 20 of the companies that BofA says may see market value expansion because of their digital asset exposure, organized by sector. Market cap and current price are as of Oct. 1.
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