Motley Fool Money “Pretty soon we’ll all be trillionaires, or whatever.”
Nov 10, 2024
Zeke Faux, the author of "Number Go Up: Inside Crypto's Wild Rise and Staggering Fall," dives into the fascinating world of cryptocurrency. He discusses the lingering appeal of digital currencies even after the FTX scandal. Faux reveals why politicians are becoming more crypto-friendly and what it means to be a Bitcoin maximalist. He highlights a surprising, low-cost crypto operation that's outperforming big brands like Nike, sparking curiosity about the future of this volatile market.
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Quiet Growth
- Crypto prices have outpaced the S&P 500 despite less public buzz.
- The crypto industry excels at creating a narrative of future potential, driving investment.
Belief vs. Reality
- Despite a lack of real-world applications, crypto prices remain high.
- Many in the industry believe in its potential, driven by speculation and a "number go up" mentality.
Number Go Up
- Zeke Faux recounts a Bitcoin conference pitch where the core technology was described as "number go up" technology.
- This focus on price increases fuels excitement and attracts more buyers, creating a self-fulfilling prophecy.
