BOA: What to Buy During a Digital Gold Rush
Overview:
We have read and written on crypto in this space many times. Recent focus has been on stablecoins and their implication for Gold, Silver, US Treasury prices and our monetary network in general. Two examples of which are:
GoldFix had focused in those prior reports on what assets would benefit form stablecoins and how that would also serve to rescue Treasuries. Now we need to look at who is causing the potential benefits to Gold and Treasuries. Enter BOA.
On July 13th Bank of America initiated coverage (which we shared with Founders upon receipt July 16th) on the parent industry of stable coins with an eye on what to invest in. Ethereum (one of 3 bank recommendations) has rallied 21% as of this morning.
The Bank’s conclusions were to buy digital picks and shovels. Specifially, Custodians (digital vaults, Banking’s successor), Platforms for Stablecoin hosting (creators of stablecoins), and what we call Cash Register companies that will handle the transactions that make these products viable (successors to Visa/MC)
Here is our breakdown of that report and their recommendations.