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Crypto is Dead… Long Live Crypto
Mr. Market has been pretty quiet on Crypto recently, because like the rest of you, he’s still trying to figure it out.
When it was minting millionaires every day, it was fun! Just like the rest of Mr. Market’s parties (see: .com, tulips, and so on), the party is completely epic and it always has some new folks who get in and get rich.
But unlike parties in the real world, it’s usually latecomers that get the hangover. And this one in crypto is a doozy.
Basically, the only way you’re up money in Crypto is if you were buying it below its 2018 peaks – and then not again. That means that everyone who got involved in Crypto from 2021 on is down money. That wipes out the NFT bros. It takes out the DeFi folks. It blows up everyone who chased laser eyes. If you heard of apes before you bought crypto… you’re down.
But not dead!
Think deeply about this. Crypto was a methodology to raise capital for blockchain development. For every huckster and scam artist, there are hundreds of well-meaning and well-funded programmers looking to develop, everything from goofy games to real live economic solutions for resource utilization.
Do not confuse crypto with blockchain! Crypto is a price, blockchain is a development.
I have seen this movie before. I got super duper excited about .com back in 2000, and here’s what nobody wants to admit: I was right.
Sure, I couldn’t pick the exact winners at the time. For every amazon.com there was a pets.com, and it was impossible to know at the time who the winner would be.
But there were winners, and I made it happen! Yup, me, Mr. Market. In my excitement for the internet, I raised the capital that created the internet itself. I did that with electric power. I did that with railroads. This is literally what I am designed to do!
Every one of those started with excitement…and then when development didn’t catch up to the hype, disillusionment… and then, most importantly, most goddamn importantly, a period of sustained development and true wealth creation.
In 2001, Apple and Amazon were trading below a dollar. Today they’re over 100. Google and Facebook hadn’t even IPO’d yet. All of the development was yet to come.
So don’t cry into your crypto losses. Instead, put on your investor hat. Not your trader hat, but the investor one. True wealth creation has just begun.
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Hint: This beverage company is the 3rd largest in the US and includes the brands IBC Root Beer, Sunkist, Peet’s Coffee, and Venom Energy. Created in a massive merger, JAB Holdings owns 74%, while shareholders hold the rest.
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