Bloomberg: “Born From The Financial Crisis, Bitcoin Maturation Accelerating”

Happy Humpday, Blockfolians!

The Lede

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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A Really Big Number (At Least Contextually) We Should Be Paying Attention To

72

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.


Final Thought

Like..really really we don’t.