BREAKDOWN: 'Rising Bitcoin Adoption Tide' – The Best of Bloomberg's Latest Bullish Bitcoin Report
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 April 2021
⏱️ 16 minutes
🧾️ Download transcript
Summary
A new Bloomberg report argues bitcoin is replacing gold more rapidly than expected.
This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.
Today on the Brief:
- Coinbase’s monster Q1 numbers
- 150 million evaporate from the global middle class
- Jamie Dimon’s shareholder letter comments on crypto
Our main discussion: Bloomberg’s latest crypto outlook is out. In this episode, NLW looks at seven aspects of the report:
- Bitcoin as digital reserve asset in a low-yield world
- Price support at $50,000
- Price possibilities of $400,000 in 2021
- Gold replacement happening more quickly than anticipated
- Growth in publicly traded companies with crypto exposure
- Exchange outflows
- The supremacy of USD digital currencies
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Transcript
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| 0:49.4 | I think this is a super interesting report. It captured a lot of the shifts that I'm seeing, |
| 0:54.5 | that I'm feeling this narrative shift, like I said, of just a pure play digital dollar |
| 0:58.9 | inflation hedge to something that's a much bigger story, missing out on the potential of a new |
| 1:04.0 | digital reserve asset. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:17.1 | The breakdown is sponsored by nexus.combe and Exodus and produced and distributed by CoinDesk. |
| 1:24.3 | What's going on, guys? It is Wednesday, April 7th, and today we are talking about the latest |
| 1:30.4 | Bloomberg Bitcoin report, and my oh my, is it bullish. First up, however, let's do the brief. |
| 1:37.5 | First on the brief today, we have to take a minute to go over Coinbase's insane Q1 numbers. |
| 1:43.4 | We have obviously been spending a lot of time here this week |
| 1:45.8 | on Coinbase. They announced the date of their IPO last week, and it is slated for April 14th. |
| 1:51.0 | Now, part of the reason they delayed their IPO until Q2 was so that they could release their |
| 1:56.8 | Q1 numbers, and boy, were they monster. In total, Coinbase has over 56 million verified users. |
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