Why I’ve Changed My Mind on Bitcoin

In a research note intended for clients, investing giant AllianceBernstein says it changed its mind on bitcoin’s role in asset allocation.

A reading of two recent essays by former bitcoin skeptics who have changed their tunes.

The Ghanaian government has reportedly changed its mind and will now seek a financial rescue package from the International Monetary Fund (IMF). The decision comes just a few days after residents took to the streets to protest the spiraling inflation and growing economic hardships. Ghana’s Growing Balance of Payments Deficit After initially refusing to seek the International Monetary Fund (IMF)’s support, the Ghanaian government has said it will now hold formal talks with the financial institution, a report has said. According to the report, the government’s decision....

In last weeks post we concluded with the following statement: Friday Aug 1st started out as an impressive day yet sold off near the end. As a trader of the Fiat Financial Markets it would have been reasonable to pull the trigger and try and take advantage of the upward momentum, but keep in mind, the medium term trend is still down and the trader should have realized within a few days that the breakout back to US$625 is not imminent. Let us now take a look at the long-term view and see where we stand. Friday’s close will help guide us whether we can once again approach the 50% Fibonacci....

Swiss Parliament member Franz Grüter could hardly be happier that his proposal for new blockchain regulations has been shot down. For months, he resisted the government's requests to kill his motion, which would have changed the definition of a bank to make it easier for cryptocurrency companies to open in Switzerland. "We got this," was the gist of what they told him. "Thanks, but no thanks." But Grüter, who was elected to represent the Lucerne region of Switzerland a year ago, remained skeptical. "The reason I was frustrated was that I didn't believe how....