Some of your financial life has already converged to a digital wallet on your phone, probably Venmo.
Bitcoin was originally conceived as internet money: “A purely peer-to-peer version of electronic cash,” as Satoshi described it in the first sentence of his white paper.
Bitcoin’s rise to new highs comes at a time when the Fed is not printing money (as hard-money types so fear), but unprinting it.
SWIFT’s forays into blockchain hint that one day the tech can replace intermediaries.
The stock market ignored the inflation news this week, and rightly so.
Will bitcoin ever go down?
Is crypto an investable asset class?
Intrepid crypto investors have already made one big discovery: “Fully diluted value” (FDV), the crypto metric commonly used in lieu of market capitalization.
Humans would not have progressed much further than hunting animals with rocks without our unique ability to achieve “intersubjective understanding.”
Don’t overlook developers and startups tirelessly building real infrastructure for something flashier.
It was yet another week of all-time highs in US equities this week, in part because Chair Powell encouraged us to continue ignoring him.
Q: Will this be a short cycle? Or a supercycle?
