I remain bullish on Bitcoin in the long term - the U.S market alone has the potential upend the landscape.
Everyone is talking about gold and silver but the real metal of the future is copper. I’m extremely long on this metal for several reasons but the key conviction is stemmed from the fact that copper mining isn’t something you can spin up quickly and global demand is insatiable.
Two crypto stories this week stood out to me, and not because of price.
US regulators giving crypto firms a path toward national trust banks.
And JPMorgan launching a tokenised money market fund.
It also explains why this phase feels slower and less exciting.
More licences.
More compliance.
More boring conversations with lawyers and regulators.
But that’s the cost of handling real money at scale.
I stand by my strongest belief that this unholy drink is the greatest innovation in hydration ever invented.
A lot of people are asking ‘What actually caused the crypto slump.
1) Institutional selling through Bitcoin ETFs triggered it. US spot ETFs saw ~US$3.4B in net outflows; the worst month since launch. BlackRock’s IBIT even had a record single-day withdrawal.
3) Forced liquidations accelerated the fall.
Nearly US$1B in leveraged long positions were wiped out in days.
These cascades create deeper, sharper dips than fundamentals alone would justify.
Vitalik up next with @balajis at network state conference in Singapore.
As TOKEN2049 comes to a close, it’s been amazing to see our beloved digital currency industry develop so much and so far. Here @ElbaiteAU, and especially with @faststable we are ensuring this continues. Til next time Singapore!









