@redphone
Great piece from Ryan. My 6 takeaways:
1. Bitcoin hasn’t made new highs versus Gold since 2021 (utterly insane tbh)
2. Crypto-native burn out is massively BULLISH. "Weak efforts should not consistently lead to extraordinary results as they have in the past."
3. Crypto apps are now trading at similar multiples to the S&P 500 Index (23x) and most analysts aren't willing to entertain annual growth rates of 20%+ (in other words, they're afraid to predict exponential growth)
4. Sovereign debt is approaching unsustainability and we'll soon be "grateful we built this parallel system."
5. The right crypto assets will become lynchpins in the global financial system.
6. We're burning off the excessive valuations from 2021 and preparing for true exponential adoption
https://x.com/RyanWatkins_/status/2014385390371602546?s=20
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