I’m More Bullish Than Ever

Crypto giant speaks. June 20, 2024 [WEBSITE]( | [UNSUBSCRIBE]( We’re closer to 1 billion users than most people think. That’s where the fun starts. I’m More Bullish Than Ever CHRIS CAMPBELL Dear Reader, Hulk Hogan launches a memecoin, buyers get scammed. Hulk deletes all tweets. Andrew Tate launches a memecoin, burns $100 million of it. It’s dropping like a stone. Barron Trump apparently launches a memecoin, but it’s really Martin Shkreli who’s behind it, the Pharma Bro who just got out of prison. Chaos erupts. There’s so much noise and chaos in crypto that you’d be forgiven for thinking it’s careening right off a cliff. (And for memecoins, you might be right.) My X feed is full of crypto investors doomposting - by all accounts, crypto is over. And yet, signals emerge from the noise: No, not the Bitcoin whale who just bought the Bitcoin your favorite crypto influencer panic sold (alongside 6,569 other Bitcoins)... It’s Jeremy Allaire, founder of Circle, who said: “I’m more bullish than I have ever been about crypto.” Circle, if you’re not aware, is the issuer of USDC, a leading stablecoin pegged to the US dollar. Allaire has been building Circle for over a decade, and, he says, “at no time have I been more optimistic than right now.” This sounds strange to the average onlooker. The market is down, sentiment is in the dumps, and everyone I talk to expects it to get worse. To address this, Allaire says that “the overwhelming majority of people have an extremely narrow and limited understanding of what’s unfolding. And that’s super bullish too.” Here, I’ll give a summary of why Allaire is so optimistic… and add some color with our take. [Crypto Phenomenon to Launch 18-Month Rally?]( Every four years, a phenomenon takes place in the cryptocurrency market that has been known to send top-performing coins up a rare 52,000%…66,000%…Even 81,000% in a matter of about 18 months… And just two months ago, this phenomenon happened again. James Altucher predicts that those who get in now could see a six-figure return in the next 12-18 months on just a $1,000 stake. He’s put everything you need to know into this short presentation. [Check it out here.]( Faster Than The Internet For the past 35 years, techies like Allaire have been watching the Internet adoption life cycles. “We’ve seen an unrelenting march of open networks, open protocols and open software, with layer upon layer of infrastructure on the internet that deepens its utility for society and the economy. “ When Allaire first started looking at cryptocurrencies and blockchain technology over a decade ago, it was clear to him that they represented the logical next stage in the evolution of the internet and digital infrastructure. Just as the internet revolutionized the movement of information, cryptocurrencies and blockchain seemed poised to transform the very foundations of the economy and society. At its core, the internet struggled due to a lack of trust. There’s no reliable way to have trusted data, transactions or computing at scale. This led to increasing reliance on centralized entities. Crypto offers the potential for a new layer of internet infrastructure to provide that much-needed trust on a global level. And adoption is happening faster than the Internet in its early days. This makes sense: The Internet required getting new hardware to everyone in the world. You couldn’t use the Internet until you had the hardware. Anyone, anywhere with a mobile phone can adopt crypto. BUT up to now, the user experience has… let’s be honest… been terrible. But the second that changes? It’s game over. The potential to see ChatGPT-level adoption is there. We’re closer to that inflection point than most think. Obvious Use-Cases Of course, back in 2013, when Allaire founded Circle, these ideas were crazy. Bitcoin was viewed as fringe and risky. The technology was slow, costly and difficult to use. Banks and regulators were wary. Today, blockchain networks have achieved global scale and can support large applications. Innovation is booming, with thousands of companies working on the technology around the world. Let’s look at one obvious use-case: payments. In 2022, US merchants spent $150 billion to process $10.5 trillion in card payments. No less, 75% of eCommerce businesses saw a big uptick in fraud attempts. Chargeback costs grew by a third. CNP (card not present) fraud losses are expected to soar 40% by 2026. Meanwhile, the /send app - through their partnership with Coinbase’s Base chain built on Ethereum - can process payments for a pittance (in USDC) compared to traditional processors… and without the chargebacks. Non-Obvious Use-Cases A decade ago, critics scoffed at ideas like a “decentralized Uber”. Today? Unbeknownst to most, it exists - and it’s delivering on the promises of a decade ago. With Teleport, a peer-to-peer rideshare app on Solana, drivers earn more, riders pay less. Uber takes 44%, Teleport takes 15%. Another benefit: instant settlement. Drivers don’t have to wait to get paid. To be sure, drivers still complete a background check and verify their identity as part of the onboarding process. And of course, there are still pain points for drivers - like not enough riders - but a decentralized Uber exists. It works. And people use it. Speaking of Uber, almost every major mayor and taxicab commissioner was against it. Remember that? But 50 million Americans wanted it. (There’s a lesson there.) What’s more, Teleport drivers can make a little more extra income by contributing to Hivemapper, a decentralized Google Maps. They simply record the road on their dashcams as they drive and get paid per mile mapped. These are all ideas that were once wispy and wild - and they’re beginning to see real-world adoption. The key for crypto projects is creating products that people will choose over the incumbents. We’re closer to that than most think. And as far as regulation goes… Bitcoin is On the Ballot Right now, governments around the world are racing to set rules and compete in this space. In the US, we’re seeing a huge shift in sentiment from politicians. Coinbase estimates that 50+ million American own crypto. No small chunk. In other words, Bitcoin is on the ballot in November. Obviously, Allaire is excited because stablecoins have emerged as crypto's killer app so far. The developer and support ecosystem is maturing rapidly. Make no mistake though - we are still in the early innings. But therein lies the immense opportunity. Over the next decade, we may see digital tokens become a common tool for incentives and governance. More and more economic activity could be orchestrated by smart contracts. Blockchain networks could serve billions of users. Decentralized organizations may begin to rival corporations. Governments could adopt these tools en masse. (The Department of Defense has already adopted at least one crypto protocol for the purposes of cybersecurity.) Stablecoins could grow to a substantial share of the money supply. Onchain credit markets could democratize access to capital. As investors, we seek to put our capital behind transformational trends. Crypto is undoubtedly one of them. Like Allaire, we remain wildly optimistic. We believe this is a space worth watching closely and investing in wisely for the long-term. If you want to see our full portfolio of cryptos… and get in on the action… [Click here to see James talk about how to access our portfolio in a recent interview.]( Until next time, Chris Campbell For Altucher Confidential Rate this email Like Dislike Thanks for rating this content! Looks like something went wrong. Please try to rate again. James Altucher: THIS is my top AI investment pick I’ve been called a “genius investor” by my fans… And an “eccentric millionaire” by some others. I think it’s because I make big predictions that [tend to come true.]( Today, I’m making my boldest prediction ever. Revealing the AI stocks I believe… Could turn as little as $10,000… Into $1 MILLION over the next few years. To show you I’m serious about helping you get in on this opportunity, I’m giving away one of my top 5 AI 2.0 stock picks – free. [See my top 5 pick here now.]( You Might be Interested in... [Jim Rickards: Demflation Will Kill The Middle Class]( [Wall Street charging after THIS 15.7 trillion opportunity]( [TikTok Takeover!]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. 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