Asymmetric Market Update™️ #25

Since December 2017, the crypto market evolved to a 2.0 iteration, growing from a market designed for individuals to one that’s institutionally accessible.

The institutional ETFs are here en masse and there is now regular traditional media coverage of the crypto startup scene. It mostly lacks nuance but it’s permeating the mainstream zeitgeist. The maturation of market structure also helps here as liquidation cascades are simply less prevalent given the enormous liquidity provided by these traditional... See more

With these market conditions come implicit assumptions around the future state of crypto. For builders and investors to meet expectations over the next 5-10 years, how much market cap creation will we need to see? How much institutional capital will need to enter the space to support these assets? Where might institutions allocate? How can both bui... See more

Countries are viewing crypto as a risk to the government or an opportunityIndia is proposing a ban on private crypto wallets while El Salvador is recognizing Bitcoin as a legal tender-The lowest tax rate is the tax rate, exit power is becoming more affordable-Sahil believes the progress of the internet will make it virtually impossible for there to... See more