I originally thought that Trump's support for cryptocurrency would bring about an unprecedented bull market, but this time the script is completely different. In previous bull markets, altcoins would rise dramatically, with outside funds pouring in aggressively. However, after the Bitcoin spot ETF was approved this time, outside funds are treating Bitcoin like US stocks.
In fact, Trump did attract a lot of outside funds, but this money only stayed in the first layer of the US stock market, hardly making it to the second layer like Coinbase, let alone the CEX and DEX that we deal with every day. So now, any stock related to cryptocurrency is rising, Bitcoin is soaring, and stocks like Circle and Coinbase are also skyrocketing. Many funds didn't even think about coming into the crypto space to buy altcoins because the learning curve is high and they can easily fall into traps. A few days ago, a company next door working on carbon neutrality saw us discussing crypto and eagerly asked if there were any stocks related to stablecoins to buy. I told him he could come into the crypto space to buy altcoins related to stablecoins, but he still felt stocks were more reliable. Although the A-shares have a bad reputation, ordinary people trust this more. The US stock market is the same; now the policy encourages crypto, and if there are profit expectations, funds want to enter. In previous bull markets, after Bitcoin reached new highs, the whole network was discussing it, and funds had no choice but to come to the crypto space. If they didn't want to chase high prices for Bitcoin, they could only invest in various altcoins that promise big returns, which is why the wealth effect of altcoins was particularly strong in previous bull markets.
This round is obviously characterized by an explosion of money in the stock market. Last night, the three major US stock indices all reached new highs, and Nvidia is just a step away from a $4 trillion market cap. Bitcoin is only slightly above $2 trillion, which seems like a mismatch. Now, hot money in AI, crypto, medical technology, and stablecoins is all rushing into the US stock market, and leading stocks are climbing higher and higher, even crypto-native VCs and capital are being siphoned off by the US stock market. I believe we are now witnessing a global capital integration, and in the future, you will be able to buy any concept in the stock market. Any project with a bit of ambition will try to break into the US stock market; projects like Sun Yuchen's TRX, CZ's BNB, and Ethereum's SBET are just the beginning. Just like projects that land on second or third-tier exchanges will definitely want to list on major exchanges like Binance and Coinbase. Since we know this is how things will develop in the future, we should start positioning ourselves now for projects that might list on Nasdaq or the New York Stock Exchange.
There are already quite a few projects confirmed for listing, and all applications for altcoin ETFs count as crypto stocks, with significant opportunities for leading public chains and DeFi projects from the US. WLFI and projects laid out by Grayscale are also strong resource targets. There are many ways to make money in the crypto space; some people excel at long-term holding, some prefer short-term operations, some specialize in the primary market, some manipulate markets, and others make money by issuing tokens or writing code. In fact, many big players are not necessarily smarter than you; they may just have entered the market early or have more capital. But every era has its period of dividends; as long as you hold on, the opportunity to become wealthy will eventually come.
