Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin

A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case.

Jun 15, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:51 a.m. UTC
Jun 15, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:51 a.m. UTC

A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case.

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

This episode is sponsored by Bitstamp and Ciphertrace.

Today on the Brief:

  • Stocks down on coronavirus fears
  • Demand destruction
  • The looming retirement crisis

Our main theme:

Bitcoin is up more than 30% on the year. After a crash alongside equities, it has proved incredibly resilient. There are famous new entrants to the space like Paul Tudor Jones II. 

So how can a Bloomberg editor argue the year has been bad for bitcoin? 

In this response podcast, NLW argues that most of the arguments are about narrative, not the underlying fundamentals. He presents six reasons why not only has it not been a bad year, but the exact opposite is true:

  • Demonstrated institutional uptake
  • Demonstrated resilience 
  • New champions 
  • Narrative fundamentals  
  • Need in emerging markets 
  • End of economic orthodoxy 

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
UK Crypto Hedge Fund Weathers Market Storm With Arbitrage Strategy

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

CoinDesk - Unknown
2
CoinDesk - Unknown
Nansen Research Debunks Single 'Attacker' Myth in Terra's Collapse

The TerraUSD stablecoin collapsed for one reason: big holders didn't trust it.

The TerraUSD stablecoin collapsed for one reason: big holders didn't trust it.

CoinDesk - Unknown
3
CoinDesk - Unknown
Siam Commercial Bank Is Chasing DeFi Yield Through Compound

The bank’s venture arm, SCB 10X, is using Compound Treasury’s 4% yield service via the Fireblocks custody platform.

The bank’s venture arm, SCB 10X, is using Compound Treasury’s 4% yield service via the Fireblocks custody platform.

CoinDesk - Unknown
4
CoinDesk - Unknown
Crypto News Roundup for May 27, 2022

We’re talking about bitcoin, when Skreli met Crypto, Ether is closing in May at 35% down, as investors look to safer risk profile investments. CoinDesk’s Markets Daily is back with the latest news roundup.

We’re talking about bitcoin, when Skreli met Crypto, Ether is closing in May at 35% down, as investors look to safer risk profile investments. CoinDesk’s Markets Daily is back with the latest news roundup.

CoinDesk - Unknown