1) Actively managed hedge funds and passive indexes built around high allocations to $BTC have a very short shelf-life. Investors now have the knowledge & means to buy $BTC themselves. Very soon, investors will specifically seek out digital asset HF strategies that own $0 in BTC.
2) Decentralized governance is less about ideology or risk transfer, & more about capitalism. Historically, there has been nothing in digital assets worth governing, but now, as #DeFi protocols are generating real revenues, there is something worth fighting over.
3) Banks & Broker/Dealers are scrambling right now to "cover #Bitcoin" - meaning research on GBTC, MSTR, Coinbase and DCG IPOs, Hut 8, SQ, GLXY etc
Soon, they'll realize the real opportunity is investment banking fees from underwriting new tokens issued by traditional companies.
Soon, they'll realize the real opportunity is investment banking fees from underwriting new tokens issued by traditional companies.
4) The skills needed to invest in $BTC (macro/trading) & $ETH (tech) are different than those needed to invest in pass-thru tokens & asset-backed tokens (research/modeling).
A tech background is becoming less important than a finance background, especially pertaining to #DeFi
A tech background is becoming less important than a finance background, especially pertaining to #DeFi
5) Every company with a retail customer model will issue a token within 3-5 years.
2017 tokens were about fundraising a dream
2020+ tokens are about aligning incentives amongst stakeholders (founders, devs, customers), & tokens are the best instrument for fostering growth.
2017 tokens were about fundraising a dream
2020+ tokens are about aligning incentives amongst stakeholders (founders, devs, customers), & tokens are the best instrument for fostering growth.
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