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.

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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

See also: For Bitcoin and Crypto, a Week of Mainstreaming Moments

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