The knowledge difference between #[0] and these two analysts is considerable.
This interview reminded me that Wall Street still doesn’t get bitcoin. The focus shouldn’t be on “digital assets” and “tokens.” The focus should be on bitcoin—the decentralized value protocol.
If these Wall Street analysts cannot grasp bitcoin, we have barely begun serious institutional adoption of bitcoin.
As a personal anecdote and more evidence, I receive regular research updates from Morgan Stanley (my current employer) about bitcoin and crypto. The research is quite surface-level and mainly focused on price movements and regulation.
Bitcoin is more than a price. It’s changing the way we store our value and make payments. It’s a new, truly decentralized monetary protocol competing against incumbent institutions who control fiat money.
Institutions have not grasped this yet, which is why money isn’t pouring into the protocol. They simply view it as an “important player in the digital asset space.” Yeah. Okay.