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the dot-com crash didn’t happen because the internet stopped being valuable overnight
it happened when the institutions showed up and priced the assets "properly"
crypto feels like it’s entering that phase…
before they came, the industry was run by random 23 y/os who bought cool domains for $2,000 and resold them a month later for $200k
morgan stanley actually had this same idea back in 2019 for bitcoin saying "the bitcoin rally was around 15 times the speed"
banks and hedge funds are coming in and buying up assets from retail investors who bought XRP at $0.1 or SOL at $8 ... can't end well