Bank of America strategist says the metaverse is a huge opportunity where cryptocurrencies will be widely used as currencies.
Bank of America metaverse prediction
Bank of America (literally translated as “Bank of America”) strategist Haim Israel told The Insider on Tuesday that the metaverse is a huge opportunity for blockchain technology. In addition, he expects him to take up cryptocurrency.
Israel is the chief research officer of the Bank of America and a global strategist. He also leads the Global Thematic Research Team at Bank of America Merrill Lynch.
He detailed:
“I firmly believe this is a huge opportunity. You need the right platforms. Without a doubt, this will be a great opportunity for this whole ecosystem. “
The Bank of America strategist predicted that the metaverse is where “we’ll start using cryptocurrencies as currencies,” noting that this will be where we finally start using cryptocurrency for larger scale transactions.
However, the research director believes that existing cryptocurrencies may be too volatile for this purpose, expecting certain types of stablecoins to dominate.
The metaverse is at the cutting edge of technology
The Metaverse gained a lot of attention in October when social media giant Facebook changed its name to Meta. A piece of real estate on the Decentraland virtual reality platform was recently sold for $ 2.4 million and Republic Realm paid $ 4.3 million for a property in the Metaverse Sandbox on Tuesday.
The Bank of America strategist also believes that traditional payments companies will be much more interested in cryptocurrencies if their use becomes widespread in the metaverse. “I see a lot of collaboration between the two,” he opined.
Earlier this month, World Investment Bank Morgan Stanley declared the metaverse as the next big investing theme. Last week, Grayscale Investments released a report indicating that the Metaverse is a potential trillion dollar business opportunity.
The metaverse is initially focused on online games that create a multiverse by merging worlds. Today, it is a global project that embraces more and more realities as well as crypto businesses and has enormous potential to realize in the future. So we suggest you stay with Cointribune so as not to miss the latest news from this unique world!
