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

<div id="node-5" class="article-heading"> <h2><span style="font-size: 14pt;"><strong>Today on the Brief:</strong></span></h2> </div> <div id="node-6" class="article-list"> <ul> <li>Libra is now “Diem” </li> <li>Christine Lagarde comes down on private stablecoins </li> <li>Dow closes its best month in 33 years </li> </ul> </div> <div id="node-7" class="article-heading"> <h2><span style="font-size: 14pt;">Our main discussion: AllianceBernstein changes its mind. </span></h2> </div> <div id="node-8" class="article-pharagraph"> <p class="text">Yesterday, CoinDesk received access to a private client research report from AllianceBernstein, a global investment giant with more than $631 billion in assets. </p> </div> <div id="node-9" class="article-pharagraph"> <p class="text">In this episode of the Breakdown, NLW reads excerpts from the memo and discusses:</p> </div> <div id="node-11" class="article-list"> <ul> <li>Why, in discussing supply, it conflates bitcoin and other cryptos but still finds limited supply “for all practical purposes” </li> <li>Why prevailing macro political conditions – particularly the growth of government’s role in business and individual lives – shifted the investment firm’s calculus </li> <li>Why its greatest long-term concern is government banning something that is actively hindering the application of monetary policy</li> </ul> </div>