Fungible

Web3 Tech Brief By HackerNoon

This story was originally published on HackerNoon at: https://hackernoon.com/fungible.
This essay covers Sharpe World, the fungibility of capital, and the budding currency war between China and Japan.
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The current market setup reminded me of the summer of 2015. The Bitcoin price hovered around $200 for what seemed like an eternity. From August 2015, the price of Bitcoin sparked a rally in China’s interest for Bitcoin. I believe something similar could happen in 2023. Rather than handing out free money to rich people who hold assets, the most influential retail buyers shifted from China to the US.