re: Official CryptoTalk Thread

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Bitwise recently put out one of my favorite editions of their newsletter – consistently one of the best macro reads in crypto. Titled “The Case for Diversified Crypto Exposure,” it opened with this line:

“When it comes to crypto assets, bitcoin is king. But history suggests investors would benefit from owning a basket of them. Something big happened last week: Ethereum started to wake up.”

And it closed with this:

“If you think blockchains are really only useful for protecting against the abuse of fiat currencies, my recommendation is just to buy bitcoin. Bitcoin is the only crypto asset with a clear shot at being ‘money.’ It will be extremely hard if not impossible for a competitor to surpass bitcoin in this role.

But if you agree with me that blockchains are a general use technology—if, for instance, you’re intrigued by the idea of nearly all the world’s assets moving onchain—history suggests you’d want to own a basket of crypto assets: Bitcoin, Ethereum, Solana, Chainlink, and more.”

Now, Bitwise keeps things professional. I don’t have to. I get to say things like hate rally and talk about what it feels like behind the price action. And honestly, if this is a hate rally, ETH’s up just 48% so far. That’s solid, but it doesn’t come close to matching the amount of criticism and disbelief it’s taken on in recent years.

If this is a hate rally, then this is just the springboard – the emotional release from the bottom. But the real test comes after. For ETH to keep climbing, it’ll have to do more than just prove people wrong. It’ll have to win people back. That next leg won’t be fueled by backlash – it’ll be fueled by belief.

And for those of you who’ve stayed in ETH – who’ve ridden the volatility and stuck with it long-term – there’s something reassuring in this move. It’s early. The climb back to former levels is still underway. But something’s shifting. For years, ETH played the role of a high-beta Bitcoin trade. That dynamic died. But now? You can almost see a bony hand reaching out of the grave.

I want to see Ethereum win.

If it wins, it means decentralized applications aren’t just experiments – they’re part of everyday life. It means open access to financial tools for everyone, everywhere. Someone in a remote village could borrow, lend, or earn yield as easily as someone in New York.

If Ethereum wins, it means real-time, automated payments for gig workers – no banks, no fees, no friction. It means the infrastructure of the internet isn’t controlled by tech giants, but by the people who use and build on it. If Ethereum wins, it means tokenized Tesla shares on a Sunday night and seamless rollovers into fractional real estate. A single mom owning a piece of a Manhattan apartment. A student in Brazil funding a local solar project with a few dollars.

And yes, it means gaming economies where kids actually own what they earn – not just rent it from a centralized platform. NFTs, in all their misunderstood glory, need Ethereum to win. And I still believe they will.

More than anything, I hope the sentiment around Ethereum continues to shift in the right direction – not about flipping Bitcoin, not about politics, not about tribalism. Just about building something better.

There’s a different energy in the air right now. I can feel it. Knock on wood – maybe we’re on the verge of something real. And remember: ETH is still down roughly 80% from its all-time high vs. Bitcoin. The runway is very long.

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