Kathleen Breitman, the co-founder of Theses, says that Bitcoin’s recent price rise is due to increased regulatory certainty in major markets like the US. She argues that this lack of ambiguity will lead to more opportunities for tying real-world assets to cryptocurrencies, making it easier to navigate the regulatory environment.
Adoption of ETFs, prediction markets, and stablecoins is also encouraging, as it suggests there may be other use cases for cryptocurrencies, such as mainstream crypto gaming. Meme coins are an extension of NFTs for building communities and creating a peer-to-peer, stateless nation. The crypto industry has been overcapitalized for the last five or six years, with some economic value or problem-solving overshadowed by speculative fervor.
Breitman compares the effects of crypto’s overcapitalization to the 19th-century railroad boom, where passengers had to switch trains because rail sizes hadn’t been standardized. With regulatory certainty, Breitman hopes for more focus on crypto’s technical underpinnings, such as wallet infrastructure, and expects more serious players to enter the space.
