Bank of America outlines 4 potential benefits of El Salvador’s Bitcoin strategy
Cointelegraph
Published Aug 01, 2021 03:24PM ET
Updated Aug 01, 2021 05:00PM ET
Bank of America (NYSE:BAC), one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin (BTC).
In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial digitization, provide consumers with greater choice and open up the country to American firms and digital currency miners.
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Written By: Cointelegraph
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