TL; DR
Full story
Last Friday, the Web3 Daily team went to the inauguration Bitcoin Investor Dayhere in New York.
In other words: a series of panels hosted by Anthony Pompliano, designed to ask the question of some of the biggest players in the traditional finance (TradFi) world:
‘Guys, what are we doing? Buy Bitcoin already. Hell – buy a BUNCH of different crypto assets.”
Here are three moments that made us think, “Oh, yeah, that’s good.” I have to write that down.’
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TradFi people like meme coins ??
“I love dog hat, I love what it represents. — Mike Novogratz, CEO of Galaxy Investment Partners.
We had to pinch ourselves when we heard that.
Strangely enough, we found ourselves in a room full of closed-minded traditional investors, eagerly learning about Bitcoin…
But that Mike would praise a meme coin on stage, without being pelted with tomatoes and booed out of the room? That was BONKERS to see.
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Altcoin ETFs are seeing huge success outside the US
Russel Starr, Head of Capital Markets, DeFi technologies (Courage), about their European/Canadian crypto funds:
“This may surprise you to hear, but our BTC and ETH funds are not our most exciting products to me, but our altcoin funds.”
“Honestly, at this point, all we want to do is recreate the success we achieved with our Solana fund.”
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Anthony Scaramucci should do stand-up.
If you take anything from this list, we want it to be this:
Anthony Scaramucci is hilarious. He was as funny as he was informative; if he speaks somewhere, you must go.
His advice when it comes to investing: “Act like a dead person.”
“The investments of dead people do better than those of the living because they don’t touch anything.”
The takeaway:
With every bull run, the creators/consumers of a different subculture are drawn into the crypto space.
In 2014 it was musicians/festival goers (after they all bought Bitcoin to shop on Silk Road), last time it was artists/art collectors (thanks to NFTs)…
This time it is those from the traditional financial world (thanks to the enormous success of the Bitcoin ETFs).
They have the deepest pockets of any cohort yet…and they don’t just want to invest in Bitcoin.