Why Is Bitcoin Going Up? Welcome to the Trump Era of Crypto
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On Monday morning, the research firm Bernstein came out with some advice about crypto for its Wall Street clients: “Buy everything you can.” Ever since the invention of bitcoin 15 years ago, this would be the kind of bloodshot, crazy-eyed call you could ignore because it was coming from a fanatic. But Bernstein is not some crypto-pilled boiler-room operation. Rather, it is part of the staid French investment bank Societe Generale and traces its history back to the 1960s, when the U.S. was still on the gold standard. The paper immediately ricocheted around the…
