$BTC at ATHs… but so is its Dominance
- truth is this cycle has been brutal for most
- BTC dominance has grown from 50% (start of 2024) to nearly 65% now
- momentum never carried over to utility, sans $hype
- institutionalized of BTC brought in passive bid firepower with corps the new greenfield following Saylor
- opportunities have been rare and very short-lived, 2-3 months max. think AI and select memes (WIF, Boden, GOAT, Fartcoin, Trump, House, Useless)
- TAM has only increased for BTC and stables - ETH is already 10% of total cap, so de minimus upside (if any)
- everything else is going to be punished by rotation, since no TAM expansion
- important to say laser focused on winners and identify giga momentum early-on; ie early conviction bids on Trump, Launchcoin, Useless when they come.
- we are playing a thesis that $BTC dom. will go towards 70%, so what do you own?
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