Bank of America Compares Bitcoin to Printing Press, iPhone in Latest Report

Bank of America, a financial institution with over $3 trillion in assets under management, has recently highlighted Bitcoin's significance by comparing it to major technological innovations such as the printing press, the Ford Model T, the iPhone, and artificial intelligence. This comparison was made in a research note published in June 2025, underscoring Bitcoin's growing importance more than a decade after the bank first recognized its potential in 2013.

In its latest analysis, Bank of America's analysts drew parallels between Bitcoin's network effects and those of past revolutionary technologies. They argued that, similar to the printing press in 1440 or the Ford Model T in 1908, Bitcoin has the potential to democratize access to financial services. The bank further grouped Bitcoin's disruptive potential with the internet-enabled iPhone, introduced in 2007, and the rise of artificial intelligence since 2015.

Bank of America first acknowledged Bitcoin in a client note in 2013, predicting that the blockchain's fixed supply and borderless design could transform the payments landscape. At that time, Bitcoin was trading near $100. Today, it hovers around $107,000, even after a 2.5 percent pullback from its all-time high of $112,000. Despite initial resistance from traditional banks, Bank of America's evolving stance reflects a broader institutional shift towards embracing digital assets.

In January 2025, Bank of America's CEO, Brian Moynihan, publicly distinguished stablecoins from other digital assets, emphasizing their transactional utility. Moynihan suggested that stablecoins could drive the next wave of banking transactions by offering programmable, dollar-pegged transfers without relying on legacy systems. Last March, it was reported that Bank of America was exploring a joint stablecoin issuance with other major U.S. banks to compete with crypto-native firms. Executives have held confidential talks, though no launch date has been set.

In February 2025, Bank of America disclosed minor exposure to Bitcoin exchange-traded funds, indicating a cautious yet growing allocation of crypto assets on its balance sheet. This exposure remains under 0.1 percent of its overall portfolio. The bank's commitment to blockchain technology extends beyond commentary, as it holds hundreds of patents related to distributed-ledger technology, covering areas such as secure messaging, identity verification, and smart-contract frameworks. While most of these patents are not yet used externally, they form a strategic asset that positions Bank of America to license or deploy blockchain solutions as regulations evolve.

Moynihan's comments and the report highlight a key distinction: Bank of America views stablecoins as a banking tool, separate from Bitcoin's role as a store of value. Stablecoins, backed by U.S. dollars, offer predictable settlement for merchants and corporate clients, while Bitcoin's volatility makes it more suitable for digital gold than for day-to-day payments. This bifurcation reflects broader market trends, where institutional trading desks often access Bitcoin through regulated trusts or over-the-counter desks, while stablecoin volumes on-chain exceeded $1 trillion in May 2025.

Bank of America's recognition of Bitcoin as a significant technological milestone adds further credibility to the maturation of cryptocurrencies. However, the transition from theoretical understanding to practical implementation remains cautious. The bank's strategic approach to blockchain technology and its evolving stance on digital assets reflect a nuanced view of the industry's potential and challenges.