Bitcoin propaganda captures Wall Street

Wednesday 3 March 2021

More from FTAlphaville today:

Citi put out an all-time classic of a report on bitcoin yesterday, as you may have already read about here. And when we say classic, we mean one of the most execrable pieces of propaganda masquerading as “research” that we have ever come across.

Not only was this “report” actually just a massive bitcoin-shilling exercise, it also contained some really quite embarrassing errors from what is meant to be one of the top banks in the world (and their “premier thought leadership” division at that).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.