We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Speculation Is Good (for Crypto)

1 0 0

Michael J. Casey

It was a busy week for the cryptocurrency industry in New York, with in-person conferences, workshops and parties filled to the brim with crypto enthusiasts. After the shutdowns of COVID-19, it had the feel of a revival. And while this was nothing like the crowds of Consensus 2018, it also felt like the continued gains in decentralized finance (DeFi) usage, non-fungible token (NFT) markets and altcoin tokens were showing up in that particular breed of hype and buzz this community tends to muster during times of speculative fervor. This week’s column explains why this is not only inevitable but, in a volatile but catalytic way, a key driver of growth.

Meanwhile, in this week’s episode of the “Money Reimagined” podcast, my co-host Sheila Warren and I conduct the second in our “OG” interview series with legendary investor Bill Tai, who began mining bitcoin in 2010 and has been an early investor in success stories such as Zoom and Canva. Tai is now helping a team called Nfinita harness the power of NFT communities to raise money for charitable causes. Nfinita’s CEO Danny Yang joined in the conversation.

Have a listen after reading the newsletter.

Two images prominently displayed on multiple LED screens caught my attention as I wandered New York’s Javits Center during Monday’s opening of SkyBridge Capital’s SALT conference: a sponsor board stacked with crypto companies’ logos and a promo for a talk by newly converted NFT fanatic Paris Hilton.

Juxtaposed, those images conjured a question that often arises whenever cryptocurrencies are in a bull market phase: Is the noise a sign the industry is poised for explosive, mainstream integration, or are we seeing the kind of over-hyped, celebrity-infused excess that portends an imminent collapse in crypto markets?

You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletter here.

The more I think about it, the more I think the answer is........

© CoinDesk

Get it on Google Play