A 108-page report from Citi argues that in the future, bitcoin could become the preferred currency for international trade.

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Today on the Brief:

  • Michael Saylor bought the dip
  • China bans bitcoin mining in Inner Mongolia
  • WallStreetBets moving off Reddit?

Our main discussion: Citi’s analysis of bitcoin

February saw a non-stop barrage of bullish bitcoin news with regard to institutional uptake. March is off to a similar start with a massive research report arguing that:

  • Bitcoin’s evolution over the last seven years has been spectacular
  • CBDCs are likely to become more important
  • If CBDCs do become more important, it could spur more corporations to use bitcoin as a global settlement currency

NLW argues that the report itself may be the beginning of a new, important part of the institutional bitcoin narrative.

See also: Citi: Bitcoin at ‘Tipping Point’ as Institutions Come on Board

Image credit: Daniel Acker/Bloomberg/Getty Images