Business Standard | 05/10/2021 07:25 PM | Click to read full article
Bitcoin rallied above $50,000 as Bank of America Corp. strategists threw their weight behind crypto as a new asset class. The rally brings prices to the highest since early September when El Salvador rolled out the cryptocurrency as legal tender.
The universe of digital assets is “too large to ignore,” wrote strategists including Alkesh Shah and Jessica Reif Ehrlich. “Our view is that there could be more opportunity than skeptics expect.”