Today on the Brief:

• Michael Saylor bought the dip
• China bans bitcoin mining in Inner Mongolia
• WallStreetBets moving off Reddit?

Our main discussion: Citi’s analysis of bitcoin.

February saw a non-stop barrage of bullish bitcoin news with regard to institutional uptake. March is off to a similar start with a massive research report arguing that:

• Bitcoin’s evolution over the last seven years has been spectacular
• CBDCs are likely to become more important
• If CBDCs do become more important, it could spur more corporations to use bitcoin as a global settlement currency

NLW argues that the report itself may be the beginning of a new, important part of the institutional bitcoin narrative.

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