25 Apr Revolut backs cryptocurrency as safe haven amidst Coronavirus crisis
Revolut last week announced it is making cryptocurrency available to all its seven million customers, as central banks start injecting unprecedented stimulus into their economies to cushion the damaging effects of the Coronavirus pandemic.
This move from one of Europe’s foremost fintech companies can open the door for many to some of the benefits of digital assets like Bitcoin, at a time when mainstream financial markets suffer a COVID-19-induced downturn.
Certainly, there is reason to be bullish on Bitcoin if one sees it as a hedge against inflation.
The European Central Bank has pledged €750 billion worth of bond-buying with the potential for this figure to increase should it be required. The US Federal Reserve and the Bank of England meanwhile have stated their intention to buy an unlimited amount of debt to finance Coronavirus-related government interventions.
The inflationary threat this poses will be a concern to consumers with savings and…