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Bitcoin Investment Trust Banned By Bank of America Merrill ...

Bank of America Merrill Lynch

Uncategorized | January 4, 2018 By: David Pimentel

Bank of America Merrill Lynch has reportedly banned its clients from investing in Bitcoin Investment Trust (GBTC). The news comes via a memo from the bank last December which was seen by Reuters.

According to the memo, dated December 8, the bank stopped approving new orders for the Bitcoin Investment Trust because of concerns about the "suitability and eligibility standards of this product." The memo was sent to roughly 17,000 brokers at Merrill Lynch and Merrill Edge, a unit for clients who...

Website: http://blocktribune.com

Bitcoin: Bank of America division bans investments | USA ...

Bank of America Merrill Lynch sign is seen on a building that houses its offices in Singapore [Reuters]

Bank of America Merrill Lynch banned clients from investing in one of bitcoin mogul Barry Silbert's top funds last month, according to a memo, Reuters news agency reported.

As of December 8, the Wall Street brokerage stopped approving new orders for the Bitcoin Investment Trust due to concerns...

Website: http://www.aljazeera.com

Bank of America’s Merrill Lynch Bans Clients from Bitcoin Fund

January 4, 2018

391 views

Bank of America's brokerage arm Merrill Lynch has barred clients and their financial advisers from participating in bitcoin investments.

The�Wall Street Journal, upon reviewing an internal memo by Merrill Lynch, reports that the brokerage arm has specifically highlighted Grayscale's Bitcoin Investment Trust, a open-ended trust fund directly invested in the world's...

Website: http://cryptotimes.org

Will Bitcoin really become a universal currency? | News ...

Will Bitcoin really become a universal currency?

14 Aug 2014, by Test 2 Test 2

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Image source: bitcoinmagazine.com

There has hardly been a more intriguing, controversial or divisive invention in the history of finance than Bitcoin . While it has taken its time to draw universal attention and is still some way from becoming a mainstream item, there are plenty of indications to suggest that it...

Website: https://www.informa.com.au

20 Answers - Is Bitcoin safe? - Quora

Asma Khan , Cryptocurrency Fellow

Updated 76w ago · Author has 410 answers and 2.7m answer views

You need to understand that safety is a relative term. Let us understand whether money is safe in the Banks or not?

Terry Burnham, former Harvard economics professor, author of Mean Genes and Mean Markets and Lizard Brains doesn't believe that money is safe in Banks.

Following is the excerpt from his...

Website: https://www.quora.com

Webinar: Bitcoin, Ether Prices Slump on Negative News Flow

In this regular, weekly webinar we took a look at the extremely negative price action in cryptocurrency heavyweights Bitcoin (BTC) and Ethereum (ETH) and discussed the drivers for the slump from negative commentary to strongly-worded regulatory warnings. Discussions included -

JP Morgan CEO Jamie Dimon called Bitcoin a 'Fraud' at a banking conference in New York and said that he would fire 'in a second' anyone at his bank found dealing in the digital currency.

The UK...

Website: https://www.dailyfx.com

Digital gold: Bitcoin value zooms past record $5,000 mark

How to get started with bitcoin

Popular digital currency Bitcoin, valued at a mere 6 cents in 2010, has surpassed the $5,000 value mark. But, within 10 minutes of reaching the record high, it has dipped back to $4,867.19.

Though for a few minutes of stratospheric highs, Bitcoin's surge in value has been remarkable, especially this year. The popular cryptocurrency reportedly gained massive...

Website: http://www.ibtimes.co.in

Merrill Lynch Says No To Bitcoin - rttnews.com

Merrill Lynch has banned its clients and financial advisers from buying bitcoin-related investments due to concerns over the investment standard of the cryptocurrency and related products, reports said Wednesday, citing an internal memo circulated among the firm's brokers and clients.

The ban covers all accounts and prevents the brokerage firm's roughly 17,000 advisers from pitching bitcoin-linked investments and executing client request to trade the Grayscale's Bitcoin Investment Trust, or GBTC, the Wall Street Journal and Reuters reported citing an unnamed source.

The decision to ban new purchases of GBTC was driven by "concerns pertaining to suitability...

Website: http://www.rttnews.com

Chart: The Coin Universe Keeps Expanding - Visual Capitalist

Chart: The Coin Universe Keeps Expanding

Bitcoin's record year is just a part of the big story

Note: This post was updated June 27th, 2017 with current values for all cryptocurrencies.

Bitcoin is the original cryptocurrency, and its meteoric rise has made it a mainstay of conversation for investors, media, and technologists alike.

In fact, the innovation of the blockchain is changing entire...

Website: visualcapitalist.com

Billionaire Peter Thiel says people are ... - Business Insider

Peter Thiel is the latest big name from the world of tech and finance to offer commentary on Bitcoin, and he's optimistic about the future of the cryptocurrency.

However, rather than discuss Bitcoin's potential uses as a means of exchange, Thiel focused on its effectiveness as a store of value.

According to CNBC, Thiel compared Bitcoin to gold and said that due to the difficulty of the digital...

Website: https://www.businessinsider.com.au

A new legitimate era for Bitcoin | Business | DW | 11.12.2017

Business

A new legitimate era for Bitcoin

Dealing in Bitcoin gets more real as trading in futures contracts of the virtual currency has started on Chicago's CBOE exchange. The subsequent buying frenzy prompted skeptics to again warn of a bubble.

When Bitcoin was first created in 2009 it was only worth a few cents. Since the beginning of the year though, Bitcoin has seen an amazing 15-fold gain....

Website: http://www.dw.com

Stock market rally set to continue but all eyes on bitcoin ...

Some stock investors are watching the violent rally in bitcoin and anticipating an equally violent selloff. That could cause spillover effects for broader markets.

PHOTO: BLOOMBERG

US stocks finished around record highs again last week as a strong jobs report and the prospects of tax cuts suggested economic growth - and stock market gains - will continue to accelerate.

The economy added 228,000...

Website: http://www.businesstimes.com.sg

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