Or should they heed the caution of Bank of America's Merrill Lynch?
Time will tell who or what entities are making the smart bets.
Recently, Thiel has had his Founders Fund buy millions of dollars of cryptocurrency bitcoin. Earlier Arrington co-launched a hedge fund based on Ripple, another cryptocurrency.
Meanwhile, Bank of America's Merrill Lynch has made the decision to be cautious about virtual currencies.
In Bloomberg, Laura Keller reports that it:
" ... told employees last month not of offer clients Grayscale's Bitcoin Investment Trust, one of the few financial instruments directly holding the digital coin, as the brokerage broadly eschews the virtual currency."
Among Bank of America's fears is that bitcoin is a bubble. And, currently, it may be.
But so were many of the dot.coms at the end of the 1990s. Eventually, the concepts for some of them evolved into very successful online businesses. Those range from meals delivered to the home to pet supplies.
Should cryptocurrencies turn out to represent a solid investment, Bank of America will have to hire a top public relations firm to restore its reputation.
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