hysteria of the headline shows actually the value of what cash means in peer to peer cache of bitcoin bank of england criticized for losing track of 50000000000 pounds of bank notes there's a bunch of parliamentarians in the united kingdom who are really upset that the bank of england doesn't know where this 50000000000 pounds in cash is because it's been dispersed to the people a spokesman for bank of england said it is the responsibility of the bank of england to meet public demand for bank notes the bank has always met that demand and will continue to do so members of the public do not have to explain to the bank why they wish to hold banknotes this means that banknotes are not missing so that's the purpose of cash right it's anonymous and here are some parliamentarians who are really angry that they don't know who holds this 50000000000 dollars 50000000000 pounds of cash and that's the purpose of cash that's why between us peer to peer cash it's your right as an individual it's your sovereign individuality and sovern rights to have individual sovereignty to be able to use your pass as you see fit

of england the bank prepares for his final rate announcement of the year. policymakers are set to leave stimulus unchanged with a brexit deal yet to materialize. and bitcoin deal. worthsays it could be 400,000. good morning, everyone. welcome to "bloomberg surveillance." i am francine lacqua here in london. let's get straight to the markets. a lot going on with bitcoin. it is interesting to hear that conversation with scarlet fu and tom keene on bitcoin, scott saying he sees a going to as much as 400,000, and we could go to that level because of policy, the fed could start printing money. hope of aaining on vaccine, the dollar strengthening, labeled currency manipulator's, and then overall, the pound actually climbs, with officials cautiously predicting a brexit deal within days. now let's get to the bloomberg first word news in london with leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. the u.k. and eu are heading for a final brexit battle over fishing rights. it is a sign the two sides have largely settled their differences over the other major obstacles to a trade agreement. officials are cautiously optimistic a deal could be reach

of institutions pile in as well. our thanks to dani burger. bitcoin potentially going to 400 k. bank of englandy makers are do to make their final decision of the year. the sea of uncertainty surrounding the u.k. economy. that coming up next. this is bloomberg. ♪ annmarie: good morning. from bloomberg's european headquarters, it's six: 30 a.m. in the city of london. i am annmarie hordern. this is "daybreak europe." here is what you need to know today. >> the real concern that still emerges is state and local governments are very large have tos and i just leave the question of what to do with congress. annmarie: the fed keeps policy study. jay powell moves to the backseat as stimulus talks drive risk sentiment. the boe haolds its final -- holds its final meeting. tear.n on a the cryptocurrency tops 22,000 this morning. scott minerd says it should be worth 400,000. very good morning to you. 6:30 a.m. in the city of london, 7:30 a.m. in brussels. we are potentially narrowing in on a brexit deal. market digest in the past 24 hours, fed getting moving to the back burner. the next to me for hours is

the bank of england prepares for its final rate announcement of the year. likely to keepe stimulus with a brexit deal yet to materialize. bitcoin minerd says the cryptocurrency's fair value still has a way to go, even as it hits record highs. matt: let's take a look at european futures. we are seeing gains really across global futures today. europe is no exception. 3 of 1% are almost 2/ the gains on the ftse. dax futures up 1%. looks like we could see another big gain german stocks, even as we suffer through this harder lockdown. here's the global macro movers screen. on the left-hand column, you will see equity index as the trade starts to hit live. -- shouldn should be start to populate. typically, the ftse is the first out of the gate and i am starting to be skeptical about whether or not this gmm screen is correctly loaded. none of the equity indexes have opened up yet, but no, i see a ftse trade, indeed up 0.5%, cac up 0.5%. we are seeing gains across the board. i will go ahead and take a look and make sure that gmm screen as the correct parameters. nonetheless, european markets are opening higher. as u.s. lawmakers get cl

of what bitcoin could ultimately be worth? well, there's never a doubt. sentiment is electric, there's no doubt about that. the recent conversation between the former bank of englandd the ceo of blackrock and i would describe this as a conversation between two bitcoin deniers, one of whom was coming to his senses, and it was larry fink who was pointing out the enormous interest that blackrock had been inkrecensing over its websites that's one demand call effect that's going on. companies are outperforming the market because they're going public with their exposure to bitcoin. at coin shares we've done research showing 4% allocation of bitcoin in the traditional balanced portfolio has interesting performance and benefits we've seen market wizards, as you mentioned, simmons, anderson all becoming interested in this asset class. so, yeah, there is definitely a narrative at the moment whereby this deceived career interest of having bitcoin in your institutional portfolio as a portfolio manager is fast migrate i migrating into a theorist of not having bitcoin in your portfolio. >> you're not going to get fired anymore if you had some bitcoin but you might get fired if

bank of england prepares for its final rate announcement of the year. policymakers are set to keep stimulus unchanged with a brexit deal yet to materialize. and bitcoin's rally. the cryptocurrency tops $20,000. scott minerd says it could be worth $400,000. good morning, everyone, and welcome to "bloomberg surveillance." i'm francine lacqua in london. tom keene in new york. in the last 20 minutes, we had huge news out of france. the story of the day, emmanuel macron testing positive for covid-19. yesterday he had a working lunch with the prime minister of portugal. we understand he also had various meetings with his cabinet but at all times the president -- or almost at all times -- he is wearing a mask. that is by people surrounding him. he has mild symptoms and will self-isolate for seven days and continue working from self-isolation. 32 years younger than president trump, and age does make a difference with the virus. there is an article about the harm to younger and younger people with a virus. it is always serious, but certainly it really underscores the news -- we are not talking enough about, because we have all this other news flow going on. but

here's all we got going here with bitcoin it's essentially what george soros did to the british pound in 1902 it was a speculative attack he broke the bank of england they broke the pound they made a $1000000000.00 over their quantum fund in a matter of hours michael saylor and micro strategy he's rolling that playbook and he realizes and this is the one thing the fed was hoping they would never have to deal with and that would be a dissenting billionaire they can pour money into the billionaires pockets with free money and stock buybacks they can pour money into the mainstream media by buying ads for defense contractors but if one is a dissenter like michael saylor and saying boss i call you out fed and he says i'm going to borrow money at your ridiculously cheap rates to buy bitcoin on my balance sheet and personally that is the the pull the pin on the grenade into a house of peaches called the global central banking system and. the next 6 weeks i think the next 6 weeks you're going to see interest rates skyrocket big coins skyrocket michael saylor is going to be out rich ing jeff bezos and the world will be completely different because a one man

steve englander of stata -- standard chartered bank and adam will all be joining us. coming up, bitcoin become a billion-dollar market after the currency surged to an all-time high. does it have room to run? next, -- we will discuss with anthony next. ♪ >> time for futures in focus and we are looking at bitcoin up more than 200% this year. last week we spoke to scott minerd, guggenheim's global cio and he said that that global value has a long way to go. scott: we made the decision to start allocating towards get -- towards bitcoin when it was at 10,000. it is more challenging with the current price closer to 20,000. amazing, over a very short period of time a big run-up we have had. but, having said that, our fundamental work shows that coin should be worth -- bitcoin should be worth $400,000. , iley: joining me is antoni whatto ask your reaction, was your reaction to that? $400,000 is a far cry from where we are now. we climbed with such velocity, where do you think that that goes ins in -- bitcoin the near to medium term? antoni: not too far away. ultimately, the price level par with

bank of canada, bank of england, ecb they all want to continue to hold their monopoly. stuart: thank you for the commentary on the bitcoin your regular commentary own the market. appreciate your combments on bitcoins. it will end in tears according to mr. gartman. >> eventually, stuart. merry christmas. stuart: look at the dow. now you're down 350. at 4:00 this morning we were down 700. we opened the market at 9:30 around went to a minus 150, 160. now we're sliding back down again. we're off 360 points on the dow. 29,800. now this. >>> politics. what is joe biden hiding and what is he hiding from? i asked the question because he is still appears to be in hiding. six weeks after the election. his public appearances are extremely rare. he is not making himself available to the media. not at all. strange, since they are so obviously on hisside. last week at a rare press briefing he answered five pre-selected questions and promptly left the stage. one reporter plaintively asked, couldn't he just squeeze in a few more questions? apparently not. what a contrast with president trump who answered any and all questions right from