"A lot of people have lost their faith in the current monetary system," he says."And I think that cryptocurrency is a big alternative for those people." The family decided to make the gamble on bitcoin this summer, after seeing its swift climb this year.While Bank of America stock price is still nowhere near the levels it reached before the financial crisis of 2008, Bank of America stock price has still been a steady growth prospect for investors since it first took its current form in 1980.The bank can trace its history all the way back more than 200 years to the Bank of Italy, which expanded to America in 1922.
As of October 2017, the company owns 700 million shares of Bank of America stock, valued at over billion."We were just like – sell it, sell it, what can we lose? Taihuttu's brother, sister and in-laws call him crazy, but that hasn't stopped them from taking their experiment public.The Taihuttus are documenting their experience on social media, and they are even taking donations in bitcoin.For years, Bank of America wanted to live up to its name and become the biggest bank in the country.In 1998, it achieved that goal, when Nations Bank (the only bank it was trailing) bought Bank of America but kept the name post-merger.From 1990 to 1998, shares of Bank of America rose over six-fold, Bank of America stock price went from to over .It is important to note that stock price data before the 1998 merger reflect historical prices of Nations Bank.Since then, it has slowly posted gains despite a brief hiccup in 2010 to 2012 when the bank was going through a 5 million fraud settlement with the US government.Bank of America CEO and President Brian Moynihan has helmed the company since the beginning of 2010 when the bank also announced it had paid off its final obligations remaining from the Wall Street bailout known as Troubled Assets Relief Program.The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services.The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.