1/7 Some thoughts on crypto.
Despite Bitcoin’s current bull run, no one can really accurately tell what’s driving it, who is responsible for it, where it’s coming from, and why it’s happening now.

2/7 With all the gains it has made, Bitcoin is still not a universal consumer payment method, either because it was not meant to integrate that way or failed to.
That role is best left for other special-purpose cryptocurrencies whose purpose is to integrate at the App level.

3/7 Going forward, we are going to see more and more separation between these 3 layers:
a/ Infrastructure coins (eg Eth, Btc),
b/ Service coins (eg any DeFi ones, Link),
c/ App coins (eg Kin, Diem).

4/7 That said, Bitcoin has been as excellent universal Store of Value (like gold), but only a more specialized Unit of Account (for the financial industry primarily), and an even more niche Medium of Exchange (more b2b, and less b2c or c2c).

5/7 What’s ahead?
A reminder that the sky is never the limit, and that historically, most sharp price movements occur during short periods of time.

6/7 Will the sector reach $1 Trillion eventually? Yes & I hope it brings with it enough headlines to tip over the banking industry and governments who have been blowing headwinds against cryptocurrencies. Just as banks shamefully resisted Internet credit cards in early Web years.

7/7 Let’s hope the recent gains bring a lot of progress to the industry in terms of user adoption and deployments. This isn’t just about price speculation and appreciation. It’s also about finding useful cryptocurrency usages in apps where users see real value, day in, day out.