The universe of digital assets is “too large to ignore,” wrote strategists including Alkesh Shah and Andrew Moss. “Our view is that there could be more opportunity than sceptics expect.”
Bitcoin rallied to around US$50,000 as Bank of America Corp. strategists threw their weight behind crypto as a new asset class.
The gain brings prices to the highest since early September, when El Salvador rolled out the cryptocurrency as legal tender. Bitcoin rose as much as 2.8% in New York to touch US$50,369.
