Bitcoin is dividing opinion on Wall Street, with a rush of investment banks expressing widely divergent views on the cryptocurrency boom.
The digital currency soared 300 per cent last year, and has roughly doubled in the opening weeks of 2021, taking its value to about $60,000. With an estimated 18.7m coins in circulation, that takes the overall value of the market to roughly $1.1tn — too big for investment banks to ignore.
But the extra scrutiny from professional analysts is not creating a consensus about its place in financial markets, or whether it should even have one at all.
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