Why Citi Thinks Bitcoin Is at a Tipping Point
A 108-page report from the bank argues that in the future, bitcoin could become the preferred currency for international trade.
March 1, 2021
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A 108-page report from Citi argues that in the future, bitcoin could become the preferred currency for international trade.
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.
Image credit: Daniel Acker/Bloomberg/Getty Images
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