Dear Bankless Nation,
Last week I asked Raoul Pal his price prediction for ETH by end of the year.
He said $20k.
And it isn’t crazy.
Crazy was calling for $20k ETH 18 months ago when it was only $140.
A $20k call at this point seems reasonable...logical…inevitable.
Look, in all my time in crypto I don’t think I’ve ever seen so many obvious tailwinds for a crypto asset than I see for ETH right now.
✅ Rapidly decreasing supply via Ultra Sound Money
✅ Rapidly increasing demand from NFTs, DeFi, and Tokens
✅ A multi-trillion dollar narrative
All three of these forces are now converging at the exactly the same time.
What’s the multi-trillion dollar narrative?
ETH is metaverse money.
The metaverse is the new world.
It’s a land of infinite opportunity where first-time coders can disrupt banks and 12-year old entrepreneurs can become financially independent.
Ethereum is the economic nexus of the metaverse.
Not Facebook, not Google, not WeChat…these centralized companies can give us tools for the Metaverse, but Ethereum will give us freedom.
Ethereum as the property rights and capital coordination layer of the Metaverse. This is the lifeblood. The center of commerce. The banking system. The money layer.
That’s the narrative.
As humanity is inexorably sucked into the metaverse this narrative only strengthens.
$20k by end of year isn’t crazy.
Here’s what’s lined up for next week:
- Podcast episode with former CFTC Chairman Brian Quintez
- Kevin Owocki is publishing an article on DAOs and coordination
- Arbitrum is coming on State of the Nation to talk scaling Ethereum
Enjoy the weekend.
- RSA
ACTION RECAP 📚
- Execute any good market opportunities you saw in Market Monday
- Learn how to use your website domain as an ETH address
- Explore the emergence of the Metaverse 🔥
- Earn yield on other blockchains with this guide
- Share your take on Loot