, 4 tweets, 2 min read
1/ Other cryptoassets go up and down relative to #bitcoin— but if $BTC doesn’t go up in USD terms, nothing does (for the foreseeable future).
2/ So long as crypto remains relatively insular and #bitcoin continues to be the primary UoA & liquidity provider in the space, this connection is due to remain for a while.
3/ The length of that “while” will depend on how long it takes for valuation techniques to become guiding consensus, the integration of #crypto into broader global macro, and the economics of use at scale.
4/ imo $ETH is currently the only asset with an independent & large enough community to break off from $BTC setting the pace, but as of now ETH/BTC continues to play a lead role.

Others will debate me on this I’m sure, and we will all learn from the debate 🤓
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