Understanding the markets this week: April 19, 2021

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    “Crypto is a $ 2 trillion disruptive force that isn’t weighed down by regulation, reluctance to destroy legacy assets, or boomer minds who just don’t get it. I can attest that anyone over 50 has trouble understanding this stuff, and I’m pretty sure that the number of candles on the CEO’s office party birthday cake correlates inversely with his understanding of crypto. “

    I’m over 50 years old, but surprisingly I managed to write a go-to post for investors about crypto – “Should you invest in cryptocurrency? “ And I keep getting some wonderful feedback from this post. Most importantly, the post helped readers “get it”.

    I admit that I haven’t “got” the other crypto stuff yet. In fact, I feel like an old man who only invests in Bitcoin and not in Ethereum, Dogecoin or Polkadot.

    How times have changed Galloway adds …

    “Crypto is shooting at the walls of the world’s financial citadels. Of course, the generation of leaders behind these walls are not inclined to recognize the wildlings outside. But making fun of new technologies, be it a mangonel, black powder, or blockchain, rarely ends well for the old wealthy owners. Larger castles are already being built on the hill directly above the naysayers … in this case in just a few years against generations. It is likely that Coinbase will be more valuable than Goldman Sachs on the day of its upcoming listing. ”

    And secure enough crypto exchange Coinbase went public this week and is assigned a value greater than $ 85 billion. But it lagged behind Goldman Sachs.

    Things have value because enough people want that “thing”. It can be purely subjective at times. And who can say when and where people are wrong about the things they want?

    The same goes for digital art. Not fungible tokensor NFTs are all the rage these days. They could be digital, and that throws many for a loop; but they are also rare. Only one or a limited amount is available for each NFT.

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