David Woo who is the Head of Global FX & Rate Strategy at Bank of America basically gave his blessing on Bitcoin.
In a 14-page paper sent to BoA clients, David Woo cites that the “maximum market cap of Bitcoin is $15 Billion or about US$ 1,300 for each Bitcoin”. It must be noted that this market cap is for US only and for US based E-Commerce activity only. It does not take into account the rest of the world.
Bank of America is the first US bank to openly talk about Bitcoins and essentially cites that the crypto currency holds promise.
The 14-page document in its entirety can be read here.