PNC Bank is the first major bank to offer Bitcoin services to high-net-worth clients through a partnership with Coinbase. While this move is a significant step towards mainstream adoption, Bitcoin bought through a bank won’t be covered by FDIC insurance, unlike cash deposits. Custody fees for Bitcoin purchases through PNC Bank have not been disclosed, potentially impacting investor decisions.

This partnership may pave the way for more banks to offer crypto services, but buying Bitcoin through a bank may not provide additional consumer protection compared to using a crypto exchange. Investors should weigh the pros and cons of different routes to buying Bitcoin, considering factors like custody fees and insurance coverage. The announcement of PNC Bank’s Bitcoin services did not significantly impact Bitcoin’s price, which has been struggling to stay above $90,000 in recent weeks.

Investors looking to buy stock in Bitcoin should note that the Motley Fool Stock Advisor team did not include Bitcoin in their list of top 10 stocks to buy now. The stocks recommended by the team historically have produced substantial returns, outperforming the S&P 500 by a wide margin. The Stock Advisor service offers insights and recommendations for individual investors seeking to maximize their investment returns.

Read more at Yahoo Finance: 1 Thing Crypto Investors Need to Know About the PNC Bank-Coinbase Partnership