The current situation of the cryptocurrency market being a copycat of the U.S. stock market is quite awkward. Looking back over the past two and a half years, the wealth effect of cryptocurrency has actually been poor. Not to mention Bitcoin, very few altcoins have outperformed Nvidia, let alone $PLTR, $APP, and in the crypto stocks, $COIN, $MSTR, $HOOD. A short-term pulse is meaningless; what’s more important is whether it can return after adjustments. However, many cryptocurrencies in the market (and many hot stocks in the U.S. stock market may also be the same) may never return after a pulse. From an asset perspective, in addition to returns, we also need to consider sustainability and certainty.
In addition to US Treasuries, I am also very optimistic about the future of US stocks on the blockchain:
It can enrich the on-chain assets of crypto and enhance value;
It allows many funds that cannot purchase US stocks due to KYC and policy restrictions to trade US stocks;
It can compel native crypto projects to focus more on innovation and value creation rather than just narrative.
In the future, if the NYSE, NASDAQ, CBOE, and CME can all trade 24 hours, this trend of integration should become even more apparent.
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