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The Bank of BNY Mellon is America's oldest bank, and it now accepts cryptocurrencies. This bank was established in 1784, almost 240 years ago.
It was announced that BNY Mellon will start to hold, transfer, and issue cryptocurrencies on behalf of their asset-management clients. Many companies have since joined the fray, buying up bitcoin as an alternative reserve asset.
BNY Mellon is already prototyping a platform for allowing cryptocurrency transactions, and will begin to offer these services in late 2021.
Bitcoin’s rise in popularity made many companies invest into the crypto industry, and if this keeps happening, it’s possible that bitcoin will rise to $500k by the end of 2021.
