This will be facilitated by increased centralization and greater regulation, the bank’s specialist of strategy department believes

Bank of America predicted crypto market capitalization to rise to $30 trillion

24.03.2022 - 12:25

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1 min

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What’s new? Bank of America specialist of strategy department Alkesh Shah believes that the crypto market can grow by more than 15 times, from the current $1,9 trillion to $30 trillion. He stated this in the program Global Crypto and Digital Assets at the Columbia Business School.

The full release of the program

What other statements were made? Bank expert Alkesh Shah opined that the crypto market is not moving in the direction envisioned by bitcoin creator Satoshi Nakamoto. Initially, digital assets were planned to be anonymous and decentralized, but the recent trends show an increasing centralization of the industry.

According to Shah, it is increased regulation and centralization that will become the driver for the growth of capitalization. The analyst cites the term “semi-decentralization,” which suggests that the operation of blockchain is being stealthily managed by centralized organizations.

“If I was going to look at the next $30 trillion for this ecosystem, I would look at the semi-decentralized part,” the analyst concluded.

Bank of America was formed in 1998. It is the largest US bank holding company with $2,82 trillion in assets under management.

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