Crypto Is A $1.5 Trillion Dollar Industry

Happy Monday, Blockfolians

The Lede

It’s strange, isn’t it, how somehow it feels like a dip right now. Never mind that bitcoin has been flirting with $50,000 for days. Never mind that a huge number of DeFi tokens are at prices that even a month ago would have seemed absurd. Never mind that interest in NFTs continues to soar.

Today, as the crypto industry absolutely gobbled the little dip of the last 24 hours, we hit a $1.5T total market cap. It wasn’t very long ago that this newsletter was discussing how the fact that crypto was now a $1T industry put it in play for a slew of new types of institutions.

What’s more, over the weekend we also saw a pretty significant tonal shift from mainstream media

The march continues…

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Highly Relevant Reading

  • The ECB is toying with the idea of holding limits for the future digital euro

  • CEOs of Robinhood, Citadel, and Reddit poised to appear at GameStop hearing

  • Morgan Stanley is considering a bitcoin investment

  • $37.5M lost in Cream Finance DeFi exploit


Community Commentary

Do you agree?
Another excellent thread from Yassine

A Really Big Number We Should Be Paying Attention To

7.31M

That’s the number of GBTC shares ARK investment holds after significantly increasing their position last quarter


Final Thought

A really important conversation