Happy Humpday, Blockfolians
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
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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Highly Relevant Reading
Fei’s $1B raise a “wake up call” for DeFi investors?
Jamie Dimon says crypto regulation a primary concern of his
Riot Blockchain puts in big bitcoin miner order
Tom Brady launching an NFT platform
Loooooooooot of discussion about these comments
“Even though I’m a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether if at this point Bitcoin should also be thought of in part as a Chinese financial weapon against the U.S.” saysco-founder Peter Thiel.
More on cryptocurrencies from The:
Never too early to be FUDpared
Talking abouit narratives, get ready for the “retail not buying stocks/crypto” any longer, they are all spending their money in booz and travel. Coming up summer 2021 😊
A Really Big Number We Should Be Paying Attention To
That’s the implied valuation with new Wall Street analyst targets for Coinbase
There it is.