Why Did A $631 Billion Fund Manager Change His Mind On BTC?

Why Did A $631 Billion Fund Manager Change His Mind On BTC?

In a client-oriented study report, the investment authority AllianceBernstein says it shifted its position on BTC in asset allocation.

Today’s Rundown:

  • Libra changes name to “Diem.”
  • Christine Lagarde claims stablecoins pose a risk to financial stability.
  • Dow finishes with the best month in 33 months.

Main Story: AllianceBernstein Shifts Position

A private client study from AllianceBernstein, which has over $631B in assets, showed that the major financial player changed its mind on cryptos.

But before we rejoice, we must ask ourselves why they merged BTC and other cryptocurrencies in the report but still found restricted supplies for practical purposes. Also, if the dominant macro-political shifts, like the expansion of policymakers’ role in enterprises and everyday lives, affect the firm’s stance? And why the company’s biggest worry is the policymakers banning something that is actively stopping the application of monetary policies?

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