Unchained Unconfirmed: How Elon Musk Pushed DOGE Up and BTC Down, With Arca's Jeff Dorman - Ep.237
May 14, 2021
Jeff Dorman, Chief Investment Officer at Arca, brings his macro perspective on the crypto market. He discusses how economic data influences digital asset performance and the classification of assets like cryptocurrencies and tokens. Dorman analyzes Ethereum's soaring value and the impact of EIP 1559. He shares insights on Dogecoin's market dynamics and Tesla's Bitcoin payment pause, while addressing environmental concerns surrounding crypto. Tune in for a deep dive into the forces shaping the future of digital currencies!
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Crypto's Macro Sensitivity
- Macroeconomic forces affect crypto markets differently depending on the asset type.
- Bitcoin reacts to economic data, but other assets like DeFi tokens are driven by internal factors.
Four Types of Digital Assets
- Digital assets are divided into four types: cryptocurrencies, protocols, asset-backed tokens, and pass-through tokens.
- Each type has different drivers for price and interest movements.
Pass-Through Tokens' Rising Importance
- Governance tokens, now called pass-through tokens, are becoming more valuable.
- This is because they now have actual cash flows to govern with real revenues.