Bayerische Landesbank about Bitcoin and “hard” money

October 3, 2019•102 words

The Bayern LB is a german state-owned bank.
Their research unit recently published a report titled Megatrend Digitalisierung.

Highlights

"an asset with a high stock to flow ratio (like gold) is said to be hard"
"Historically, assets with the highest stock to flow ratio have always been always used as money, as it enabled the best value transfer over time"
"Bitcoin was engineered to be harder than gold".

eventually (better late than never)...they notice the strong correlation of Bitcoin's stock-to-flow ratio with its market capitalization. Their model predicts a price of $90,000 following the halving in May 2020.

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