I kinda disliked this bull cycle. Not because it is harder than previous ones, but because it is an 'externally driven' cycle: pushed by macro and lacking the kind of internal crypto innovation that made past cycles degen fun. But I realized that this cycle is a societal shift for crypto natives. It is our redemption arc. We finally feel less ashamed to say we work 'in crypto' than before. Because we are winning and outsiders hate it. Crypto lobbying wins in the US show that the 'old establishment' can’t keep us on the sides anymore. They tried: closing our bank accounts, calling crypto Ponzi, negative coverage in legacy media etc. Then ETFs launched with record volumes. And yet Vanguard still refuses to touch crypto, saying it is 'speculation not investment'. I’ve been watching The Gilded Age. What crypto people feel now already happened before. In 1880s New York, the old people controlled society. Their wealth came from land, trade, and Manhattan real estate. Like the aristocracy in Europe, even if you were super rich you couldn’t enter the elite. The 'new people' made money in railroads, shipping, steel, oil, and finance. They built bigger mansions and had more luxurious parties. They were richer than the old guard but made fun as vulgar. That was their Lambo moment. Ours was last cycle. Much less of that this Lambo, WAGMI energy this time, right? That is crypto today. We have been outsiders. Old money expected us to collapse by now (just read posts by the EU central bank researchers.) Now politicians listen. If they don’t, they won’t get elected. Forward thinking institutions adopt crypto: Visa, Mastercard, BlackRock. But Vanguard and Berkshire Hathaway are too old and proud to admit the new reality. Even the EU is considering issuing EUR stablecoin on a public blockchain because they are just soooo behind. So with our anon Pudgy, Punk NFTs, we are becoming the new establishment. We are not there yet, but this cycle was the tipping point. Anyway, recommend watching the Guilded Age to understand my point here.(Ignas | DeFi)