In a research note intended for clients, investing giant AllianceBernstein says it changed its mind on bitcoin’s role in asset allocation.

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This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

Today on the Brief:

  • Libra is now “Diem” 
  • Christine Lagarde comes down on private stablecoins 
  • Dow closes its best month in 33 years 

Our main discussion: AllianceBernstein changes its mind. 

Yesterday, CoinDesk received access to a private client research report from AllianceBernstein, a global investment giant with more than $631 billion in assets. 

In this episode of the Breakdown, NLW reads excerpts from the memo and discusses:

  • Why, in discussing supply, it conflates bitcoin and other cryptos but still finds limited supply “for all practical purposes” 
  • Why prevailing macro political conditions – particularly the growth of government’s role in business and individual lives – shifted the investment firm’s calculus 
  • Why its greatest long-term concern is government banning something that is actively hindering the application of monetary policy

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.

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