On December 11, a prominent but very private financial newsletter author noted to clients that while he had never previously written about bitcoin, it was correct to say that institutional capital had now started to arrive in scale and that it would be churlish to pick a fight with it. Demand for bitcoin would now outstrip supply.
Bitcoin, he observed, would become an excellent metaphor for risk appetite in 2021 as a result.
Less than a week later, Coindesk confirmed that…
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