The Exponential Age of Cryptocurrencies

I realized that crypto was a secular trend driven by network adoption and a cyclical trend driven by liquidity. Every peak in the ISM, which is my proxy for the business cycle, is three and a half years apart since 2008. I looked at the debt structure of the United States and realized every single man, woman, corporation and the government around the world reset all interest rates to zero in 2009. And everybody's got roughly three and a five year periods where they keep rolling it over. So then I came up with this thesis of the exponential age - we're walking into a nexus of network adoption effects at scale of which humanity's never seen before," he said.