Bitcoin Rapidly Replacing Gold, Says Bloomberg
Happy Humpday, Blockfolians
The Lede
Bloomberg’s Monthly Crypto Outlook is out and it’s a good one. Here’s a quick hit of the subjects they cover:
Price support at $50,000
$400,000 price prediction
Bitcoin as reserve asset
Bitcoin filling in gold’s role quickly
Growth in publicly traded companies with crypto exposure
Exchange outflows
The gold conversation is particularly savage. In effect, Bloomberg is arguing that there is an inevitable long term trend away from gold and towards bitcoin, and that the transition is happening a lot quicker than some might think.
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Community Commentary
Loooooooooot of discussion about these comments
Never too early to be FUDpared
A Really Big Number We Should Be Paying Attention To
$144,000,000,000
That’s the implied valuation with new Wall Street analyst targets for Coinbase
Final Thought
There it is.