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Pietro Ventani's avatar

Like the optimism and do agree on a number of considerations including the long term prospects for the space. I am still however concerned about the correlation btw crypto & tradfi/macro. To this extent, should we see meaningful risk off turn, I suspect crypto may also decline together with other asset classes. In that scenario BTC may actually do relatively better (or less worse) than ETH precisely because of its lower beta.

Another two reasons why BTC may overall be a more resilient bet are:

- At some point Gold's strong trend (and decoupling from real rates) may rub off BTC as well as the analogy of use case (SoV).

- Any regulatory clampdown is more likely to affect ETH disproportionately vs BTC especially when it comes to the DeFi space.

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