Bank of America Merrill Lynch analyst began to include bitcoin in the research area in Thursday

BofA Merrill Lynch analysts began to include bitcoin in the research area in Thursday and issued its first report. The investment bank estimates that the fair value of 1 Bitcoin is about $1300 trillion in current supply terms.

The Thursday is a big day for bitcoin, which regulates bitcoin, while allowing the public to buy and sell the virtual currency, but warns financial and payment agencies not to carry out bitcoin operations.

BofA Merrill, which assumed that bitcoin combined a hedge (similar to gold and silver), a means of payment (similar to Western Union remittances or MoneyGram) and a medium of exchange (such as online shopping) and so on, was expected to have a total market value of USD 15 billion and, following current supply, The fair value of 1 Bitcoin is 1300 dollars. The current main exchange has a bitcoin currency of less than 1100 dollars.

"We believe Bitcoin can be an important means of payment and may pose a serious challenge to the traditional transfer service providers," BofA Merrill Lynch analysts said. As a medium of exchange, Bitcoin has a definite growth potential. ”

Analysts say many bitcoin rivals Litecoin and Bbqcoin have emerged. But they believe that in such a "winner-take-all" market, a wide range of acceptance and popularity will ensure the odds of a bitcoin's success. As Bitcoin becomes more popular, rivals will face higher barriers to entry, making it less likely to overtake Bitcoin in market share.

But bitcoin is not without flaws, the virtual currency is volatile, the price of a single month or even as high as 500%. Regulators may also increase the cost of using this currency. Not only that, because many accounts have been stolen in recent months, the security risks are also gradually increasing.