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Why a $631B Asset Manager Just Changed Its Mind on Bitcoin

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

CoinDesk Insights
Dec 1, 2020 at 8:00 p.m. UTC
Updated Sep 14, 2021 at 10:36 a.m. UTC

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

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 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.

DISCLOSURE

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.

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