Bank Of America Receives Patent For Cryptocurrency Bank Accounts

Bank Of America's latest patent will be a game changer, and I believe a catalyst for the widespread adoption of cryptocurrency. The primary reason that the Grayscale Bitcoin Trust (GBTC) has been so popular is its availability through a standard brokerage account. Investors willingly pay a premium of more than 50% to buy Bitcoin through a brokerage. Bank Of America was just awarded a patent that would provide a means for customers to hold and trade cryptocurrencies in a standard bank account.

https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/

Those of us in the crypto world have no problem navigating online and offline wallets, but this is the part of the process that the public is terrified of. I have heard from so many people that they won't jump in because they are intimidated by crypto wallets and are afraid of being hacked. The idea that someone can buy and sell cryptocurrency from within a regular bank account will usher in the next level of cryptocurrency adoption. While I am no fan of banks, and I have no use for them when it comes to my own cryptocurrency holdings, I really see this as a major step toward sweeping acceptance in the coming months.