Bitcoin and Crypto Talk (Merged)(includes NFT)
Looks like Wall St. wants a piece. They say only 1% of the people have access to cryptocurrency mkts. This would open it up to the other 99% without them having to work at it.
https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/
It's a fair point that very few people who might be in the market to buy bitcoin can't do it. That means that there is untapped demand - which means that there is additional upward bias that could be unleashed.
At the same time, there is still the meaningful question of valuation. The vast majority of bitcoin purchase is made as a store of wealth, rather than a currency. Of course, bitcoin has no intrinsic value, and because it isn't being purchased as a currency, its value isn't tied to its trade value as a currency. So it's valuation isn't really analogous to trading currency.
Its really more like gold than anything else, with a value based on human behavior. Gold has meaningful uses but its value is substantially higher because people believe that it fundamentally stores wealth - even though it really doesn't, at least not beyond that human behavior component. We consider it valuable so, therefore, it is.
Gold, however, has many centuries of credentials behind it as a store of wealth based on human behavior. Bitcoin, on the other hand, could easily be just a bubble (which have been a scientifically demonstrated human behavior). Only time will tell whether the human faith in bitcoin as a meaningful store of wealth validates the investment.
If its activity as a currency substantially improves, that could be the validation. Some platforms (like Square) are enabling bitcoin use. That kind of mainstream use will go a long way to validating bitcoin.