Crypto's Euphoria, Mass Stablecoin Adoption, and What Santi's Buying | Roundup
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I think that I'm earlier in this industry than I was a decade ago for the simple reason that a decade ago, it was let's become digital gold. It's 10,000,000,000,000. And what is both daunting, exciting, but also really amazing is that the aperture has opened up in a way that things are working. I don't think that triggers euphoria. That triggers like a like, sort of sits on you. It takes a while, and then you're like, oh, fuck.
Like, legislation comes, banks start holding, banks start issuing, tech companies start issuing, US dollar maintains global reserve status, as we basically figure out how to export dollars to the entire world. And so that was just biggest takeaway from that from the multicoin summit was, like, I think people are grossly underestimating. Yeah. I think people think that there's, like, oh, Stablecoin bubble on Twitter and people are talking about that. We're, like, inning we're not the game hasn't even started for sale. Exactly.
Absolutely. It's a speck of dust.
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I feel like the vibes are, well, I tweeted about this yesterday. The market doesn't feel euphoric at all.
Yeah. Let's let's let's talk about that. Why why do you think that is? Yeah.
My the way I think about it is when you believe in something and it happens, it doesn't create euphoria. Euphoria happens when something that you don't believe in happens or that you hadn't considered. And I think, you know, if you're still here, like, it's been a a difficult couple of years. And so whether you've been investing in Bitcoin, but, like, something like Solana is, I think, 5% off its all time high. I was at the multicoint conference. You were there too. I think it's the people that are still here really believe in the technology. You've sort of been hardened by difficult times, an
I I have a different take, actually. I I think you are right. So it's not a but. It's an and. It's, meme coins have been great for some reasons because a lot of people have made a lot of money. And, actually, a group of people who usually doesn't get to make a lot of money, I would say, has made a lot of money, and that's been a really net positive. The negative is that I think it sucked the air out of a lot of the rest of the industry. Right? As a you know, like, crypto kind of has worked the same way that tech has worked in that it's a very venture backed industry, and it's predicated on the
thing is. And so
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