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Saturday, May 08, 2021 4:32:04 PM
My point. It's coming. Lots of these Cryptos will blow up and wither away. But some of them will be exponential supernovae.
I have weekly pow wows with the boss's son. Like many youngsters, he's a Crypto kid. I tell him about the dangers. He shows me his digital wallet with $500K in it (started with $30K). I tell him he should pick stocks even though he doesn't know to or know how to calculate a market cap...
The Digital Natives (Gen Z) and the younger Millennials think nothing of spending money and getting something digital (non-tangible) in return, whether it be music, movie, software, Crypto, an NFT, etc. And all these little ding dongs are connected in some fashion on social media. The network effect is very real. It's hard to fathom the exponentiality of it (Metcalfe's Law). When it moves, it moves quick.
Elon is on Saturday Night Life tonight. My gut says Doge will touch $1 tonight. It might be back to $0.30 a week from now. IMO, some of these Cryptos are here to stay and will remain a reliable "store of value".
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