Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin

<p><span style="font-weight: 400;">Today on the Brief:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Stocks down on coronavirus fears</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Demand destruction</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The looming retirement crisis</span></li> </ul> <p><span style="font-weight: 400;">Our main theme: </span></p> <p><a href="https://www.coindesk.com/price/bitcoin"><span style= "font-weight: 400;">Bitcoin</span></a> <span style= "font-weight: 400;">is up more than 30% on the year. After a crash alongside equities, it has proved incredibly resilient. There are famous new entrants to the space like Paul Tudor Jones II. </span></p> <p><span style="font-weight: 400;">So how can a Bloomberg editor argue the year has been bad for bitcoin? </span></p> <p><span style="font-weight: 400;">In this response podcast, NLW argues that most of the arguments are about narrative, not the underlying fundamentals. He presents six reasons why not only has it not been a bad year, but the exact opposite is true:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Demonstrated institutional uptake</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Demonstrated resilience </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">New champions </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Narrative fundamentals  </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Need in emerging markets </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">End of economic orthodoxy</span></li> </ul>