Bank of America has formally recognized Bitcoin as a major global currency for 2025, placing it alongside traditional fiat currencies like the euro and Japanese yen. This institutional acknowledgment marks a significant shift in mainstream financial validation and challenges longstanding skepticism about cryptocurrencies’ functionality as viable currencies.
The classification arrives amid Bitcoin’s exceptional market performance, with prices reaching an all-time high of $118,856.47 and a 24-hour surge of 6.02%. The bullish momentum was further reinforced by public optimism from Changpeng Zhao, former CEO of Binance, regarding Bitcoin’s long-term potential.
Bank of America’s endorsement signals accelerating institutional acceptance and may catalyze broader adoption of Bitcoin in corporate finance applications. Industry observers indicate this could prompt other financial entities to integrate Bitcoin for cross-border payments, treasury management, and digital asset-backed lending services.