Thoughts on Crypto and Digital Assets: Bitcoin sentiment remains positive

BofA Global Research Podcasts

Apr 22 2022 • 8 mins

Despite shorter term macro headwinds, Miami conference demonstates growing interest and positive sentiment

The digital assets market has declined with stocks and bonds and the market value of the 18,000 tokens that are in this ecosystem remains down about 16% year to date. Digital assets, including Bitcoin, continue to act like risk assets rather than inflation hedges. With an aggressive Fed as a top concern for investors, digital assets have struggled this year despite long term promise for many. In this episode Alkesh gives an update on Bitcoin Miami and insights gained from the BofA Global Research Crypto Mining conference. He believes that there are misconceptions around Bitcoin’s energy consumption, but that there is work to done to make mining more energy efficient longer term.

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