I. Have. Ethereum. Fever.
Way back in January 2017 when Obama was still President and there were still terrorists…Ethereum was $8.
Tonight it trades at $170. The market capitalization is $15 billion.
Here is a price chart of Ethereum:
I was pretty late to the Ethereum fever back in March, 2017, when I added a bit and showed a few symptoms.
By the beginning of April, after Fred Wilson mentioned at our Stocktoberfest that the market cap of Ethereum could surpass that of Bitcoin in 2017, a lot of people seemed to have taken that seriously!
Ethereum fever, like all financial fevers, will run it’s course.
The best thing about Ethereum, and the one story that is not being told, is the amount of bankers involved.
There was no Morgan Stanley ‘series F’ or IPO.
Goldman wealth managers have no list of Ethereum shareholders. They have to sneak onto Twitter with fake emails to see who is bragging about it.
There will be hundreds of billions, if not trillions of dollars created in the crypto currency and token economy and the banks will see zilch.
I was watching the HBO movie on Bernie Madoff tonight. It was well done. My biggest takeaways:
1. How lucky the bank CEO’s and other execs continue to be for not having to do the perp walk.
2. How bungled the SEC and FINRA will always be.
Software has found a way to eat away at the too big to fail banks and lay waste to ancient securities laws and regulations.
For that alone, this fever is pretty healthy.
PS – Do not chase Ethereum. Wait for the fever to catch a cold.
Also published on Medium.