$20K May Be Lower-Bound of Bitcoin Prices - BofA Strategist

In a CNBC interview, BofA strategist Francisco Blanch, while not giving a specific price target on Bitcoin, said one reference point is that it costs about $20,000 per Bitcoin to produce currently, which could represent a lower bound.

The strategist recently argued that there’s practically no good reason to own Bitcoin (BTC) as the digital asset is correlated to other risk assets.

You May Also Be Interested In

• BofA Securities Downgrades Principal Financial Group (PFG) to Underperform
• Cantor Fitzgerald Starts Silence Therapeutics (SLN) at Overweight
• Evercore ISI Starts Procept BioRobotics Corp (PRCT) at Outperform