Bitcoin News

Bank Of America: Bitcoin Is The New Internet

by Crypto Hobby

Updated July 20, 2025

Bitcoin coins and network lines — bitcoins gathered in a blue surface

Bank of America (BoA) has drawn a significant parallel between Bitcoin (BTC) and transformative inventions like the internet, highlighting the cryptocurrency's increasing influence in global finance. This comparison underscores Bitcoin's transition from a niche asset to a mainstream financial instrument, signaling its growing acceptance and potential to reshape traditional financial systems.

Bitcoin's Ascent to Mainstream Recognition

Bitcoin has experienced a remarkable surge in adoption and performance over the past decade and a half, outperforming major tech stocks and commodities. This growth has been significantly bolstered by the approval of spot Bitcoin ETFs, which opened doors for global financial institutions to engage with this burgeoning asset class. Even major players like BlackRock have integrated BTC into their holdings, further solidifying its position in the financial landscape.

Shifting Global Financial Dynamics

Larry Fink, CEO of BlackRock, has voiced a notable perspective on the future of global reserve currencies, suggesting that the U.S. dollar's dominance may not be perpetual. Fink believes that other currencies or digital assets, such as Bitcoin, could emerge as central figures in future global reserves. This sentiment reflects a broader recognition of Bitcoin's potential to disrupt established financial norms and its increasing relevance in international finance.

Key Takeaways

Bank of America compares Bitcoin to revolutionary inventions like the internet.
Bitcoin's adoption has surged, outperforming traditional assets.
Spot Bitcoin ETFs have facilitated institutional investment.
BlackRock's CEO, Larry Fink, foresees a potential shift in global reserve currency dominance, with digital currencies like BTC playing a role.

Recent Price Movements and Future Outlook

Bitcoin reached an all-time high of $111,814 on May 22nd. While it has experienced a slight dip since this peak, currently down 1.3% daily and 3.5% weekly, its long-term trajectory remains positive. BTC is up 0.2% over the last 14 days, 1.6% over the past month, and a substantial 60.2% since June 2024. Analysts anticipate continued growth in Bitcoin adoption, with some even predicting its price could exceed a seven-digit mark as countries establish digital asset reserves to lead the digital financial frontier.