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.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
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
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.
