I’m a recent crypto convert who completely missed what crypto was all about for the first decade or so of its existence. By way of background, for the first 10 years of my career, I worked in the capital markets division of what a large NY based investment bank. The next 10 years were spent in institutional investment management, as the senior portfolio manager of a $6 billion macro fund at a $100+ billion dollar US pension plan. I remember when crypto was first brought to the attention of our investment committee sometime around 2012; the response was universal laughter and ridicule. In hindsight, we were clearly wrong.
I am now fully convinced we are on the eve of another tectonic shift in the paradigm of money. Think livestock to metals to fiat to crypto. In each one of these shifts, the old guard, particularly those who have a lot to lose, have always pushed back against the new as it represented an existential challenge to their way of viewing the world. I can almost hear the arguments of livestock shepherds thousands of years ago arguing that there was no intrinsic value in precious metals. After all, you can’t get milk or meat from metals and they don’t replicate by breeding. This paradigm shift will be no different. It will be bumpy but it will happen as crypto provides way too much utility for humanity to ignore.
Look forward to being a part of this community and learning what I can!