Happy Humpday, Blockfolians!
Bloomberg has just released a Crypto Outlook report and, boy, is this thing bullish.
This year marks a key test for Bitcoin's transition toward a quasi-currency like gold, and we expect it to pass.
The macroeconomic effects of the coronavirus accelerate Bitcoin's process of gaining value relative to other cryptos.
Pricing resets for the primary quasi-currencies, and this year's shakeout in equities, support Bitcoin and gold-price appreciation, in our opinion
Stock-market volatility on the rise vs. a decreasingly volatile Bitcoin may tilt performance bias toward the crypto, if history is a guide.
Seriously, we don’t have much to add. Just go read the thing.
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Highly Relevant Reading
Italy’s primary newswire service is trialling an Ethereum-based system to thwart fake news
Tim Draper’s venture studio just released a WordPress plugin for crypto trading
Fast evolving crypto derivatives exchange FTX launches crude oil futures
Dharma has launched social crypto payments for Twitter
Arca’s David Nage tees up a fun conversation about the world’s current best investor
Congrats to Adam Draper and BoostVC on their $40m raise! More dry powder for crypto and beyond
A Really Big Number (At Least Contextually) We Should Be Paying Attention To
That’s the number of major financial services firms in China who have registered with the government to provide blockchain-based services - including every state-owned bank.
Like..really really we don’t.