More Momo in Crypto as Citi and Goldman Pile In (CAN, RIOT, ISWH, MARA)
As we have noted, the argument for or against Bitcoin comes down to future prospects for legitimacy as a currency system. The “store of value”, “speculative asset”, and “diversification” arguments are all second-order pathways contingent upon its ability to establish itself as a legitimate, mainstream medium of exchange with widespread network-effect legitimacy. But, ironically, that legitimacy may ultimately depend on its acceptance in financial asset terms. Hence, the future is looking pretty bright today as the odds of that acceptance appear to be back on an upward trajectory a...