看美股的“币股”市场,很像2017年初的云币网。 那时候还没币安,火币和OK也只有BTC和LTC。 云币是李笑来搞的山寨币交易所,选币审美很好,是第一个上线ETH的。 网站上就十来个币:BTC、ETH、LTC、ETC、NEO、SIA……币圈聚会时大家也都只买这几个,因为别的根本没得选。 后来17年的疯牛来了,NEO涨了1000倍,其他的也起码翻了几十倍。 现在看美股,市值能到3B以上的“币股”也就七八家,每个赛道大多只有一个标的。想买交易所?只有Coinbase。想配比特币?只有MicroStrategy。想配稳定币?Circle一家独大。 很多人说Circle估值太高。但当整个市场就它一个稳定币标的,你想配置这个赛道,不得顶着高PE上? 现在的“币股”市场,就像2017年的云币网。 标的稀缺,流动性集中,叙事高度聚焦,所有人捧着水盆朝同一个池子里灌水。
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