$100 Trillion

In the last decade, blockchain technology and crypto have been laying the foundations for an alternative reality in which humans interact and organise themselves without the mediation of a third party. Crypto currencies are a US$2T asset today and billions of dollars are being traded globally without the need of a bank or intermediary, with transac... See more

Capital is flowing into crypto. Over $20B in crypto funds have been raised since the start of 2021 per Dove Metrics. Dry powder is abundant, but liquidity is asymmetrically distributed. Most capital is focused on early-stage, private projects. That’s not sustainable. While retail investors have been able to consume the float of historical crypto ve... See more

By the end of 2028 we haven’t quite recaptured the all-time highs of crypto market capitalization, but the relevance of this all-encompassing statistic has diminished. There’s now comfortably $20+ trillion of crypto assets, but more importantly the technology has penetrated so many verticals – albeit to varying degrees – that we no longer speak in ... See more

Crypto is designed to break down barriers, allowing the best money to rise to the top. We see this behavior in stablecoins, where >99% of stablecoins are US dollars. There isn’t a whole lot of organic demand for fiat currency #109. Many people are artificially restricted from holding dollars offchain, which is a major reason for the success ... See more

The world’s total gold total above-ground supply is worth ~$11T today³. Digital stores of value lower friction, provide better access and offer programmability, which could increase the total market size compared to gold.

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3) Crypto is having a real-world impact