Inflationary pressures are pushing Bitcoin up.
As stated by Axios:
Bitcoin crept above $50,000 today for the first time since Sept. 7 — when El Salvador became the first country to use the cryptocurrency as legal money.
Driving the news: Bank of America initiated research coverage of cryptocurrency this week, saying the category is “too large to ignore.”
What to watch: The most popular cryptocurrency on Revolut is Ethereum, Revolut CEO Nikolay Storonsky told Axios’ Felix Salmon during a fintech conference earlier in the day.