Bankless Diaries of an ETH Maxi on Wall Street | Sam Jernigan
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Jun 19, 2024 
Sam Jernigan, a macro investor with 15 years of experience, shares his journey as the 'Unofficial ETH Maxi of Wall Street'. He discusses the challenges of explaining Ethereum to traditional finance and why this lack of understanding is bullish for ETH. Sam delves into Ethereum's potential role in finance, the significance of ETFs, and the importance of bridging communication gaps between crypto and traditional finance. He also highlights how institutional adoption is evolving and what it means for the future of digital assets.
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Defining TradFi
- TradFi encompasses investment banking (sell-side) and hedge funds/private equity (buy-side).
- Venture funds, like Andreessen Horowitz, operate outside of Wall Street's traditional structure.
Bitcoin Skepticism and Revelation
- Sam Jernigan's Bitcoin skepticism cost acquaintances potential billions early on.
- He later recognized Bitcoin's macro potential after observing Chinese capital flight.
Bitcoin as a Macro Asset
- In 2015, Sam discovered Bitcoin's correlation with USD/CNH while betting against the Chinese RMB.
- This revelation highlighted Bitcoin's potential as a macro asset.