"Something Needs To Go Really Wrong Not For Bitcoin To Appreciate"

That's a quote from a new Bloomberg Intelligence report

Happy Thursday, Blockfolians

The Lede

There is a growing sense of strength in the bitcoin narrative. The specter of money printing has brought folks like Paul Tudor Jones in as a hedge against inflation. As protests engulf the country and discussions of financial tracking and other types of surveillance grow, others are looking with keen interest at bitcoin’s properties of censorship resistance.

That strength is certainly finding its way into the mainstream of financial discourse. A new Bloomberg Intelligence report on bitcoin points to macro tailwinds and resilience over the last few months as major factors that could lead to matching or exceeding All Time Highs.

The price prediction has (expectedly) gotten the biggest reaction, but the whole piece is worth checking out.

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Highly Relevant Reading


Community Commentary

Preston Pysh and Dave Portnoy describe how the markets work today.
Michael Novogratz connects the dots between crypto and wide-scale systems change

A Really Big Number We Should Be Paying Attention To 

9.29%

That’s the size of Bitcoin’s most recent difficulty adjustment - the 8th largest in history.


Final Thought

How’s that for a black swan?