Billionaire Bloomberg Will Spend “Whatever It Takes”

Axios reports:

Mike Bloomberg is jumping into the Democratic presidential race because he believes that Joe Biden is fading, opening the moderate lane next to Elizabeth Warren, sources close to the former New York mayor tell Axios.

“Mike will spend whatever it takes to defeat Donald Trump,” a Bloomberg source said. “The nation is about to see a very different campaign than we’ve ever seen before.” I’m told there’s no way he’ll later run as a third-party or independent candidate, partly because of ballot-access hurdles.

Theory of the case: Bloomberg, who according to Forbes is worth $52 billion, will self-fund, allowing him to run an essentially national campaign at a time when the rest of the field is raising money and focusing on early states.