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David Woo
David Woo is the Head of Global Rates & Currencies Research at Bank of America Merrill Lynch, where he researches world business markets. Woo has analyzed several areas of economics, including currency wars, Bitcoin,〔〔 the renminbi,〔 the Federal Reserve System,〔 the future of the Euro,〔 the relationship between weather and the USD,〔 the American economic renaissance,〔 and the Fed rate hiking cycle.〔 == Bitcoin == David Woo has analyzed Bitcoin, stating that it "can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers", an opinion that Joe Weisenthal said "represents a top-flight mind at a major financial institution assessing it in a serious way, and coming to the conclusion that it could be the real deal." Woo further stated that "As a medium of exchange, Bitcoin has clear potential for growth". However, Woo put the upper bound of Bitcoin’s fair value at $1300, stating that "Bitcoin is highly volatile, the result of speculation activities, and that's hindering its general acceptance as a form of payment."〔
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