This time attending the BTC Asia conference in Hong Kong, it’s obvious that the project teams here aren’t as well-funded as last year. Even though this year’s event is at the convention center, and the venue is way more upscale compared to last year’s basement level near the parking garage, the projects last year were all part of the Bitcoin ecosystem and had money to burn. The freebies they gave out were all valuable stuff. This year, there’s almost no swag—only Japan’s MicroStrategy Metaplanet gave out an orange hat. Everyone’s saying the money has all gone into the pockets of top institutions and big whales, while retail investors are left holding bags of altcoins, completely drained by this bull market. What’s scary is that countless junk coins are still launching every day, and even the world’s most powerful presidential families are occasionally issuing tokens to collect platform fees and drain liquidity... If there’s another bull market or altcoin season in the second half of this year, I’ll trust Musk one more time. Dogecoin is the people’s currency. Dogecoin.