I just don't see how this is true considering the absolute insane adoption of digital assets and announcements we've seen as of late.
Bank of Canada just put out a report on Aave.
Apollo is working closely with Morpho.
We saw Franklin Templeton x Ondo, Invesco x Superstate, NYSE x Securitize, and FT just announced their "Franklin Crypto" division.
IMF just said tokenized finance is the future.
They are clearly paying attentino.
I'd say they don't think its a joke rather they think its a highly speculative, overlevered industry that is early...that should be allocated to, with reason.
From what I've been hearing, this is between 2-6% of personal assets for most risk-taking investors, up from 1-3% in the past years.
This is a generational shift for them, and they are embracing our industry. Flows will come, and prices will react.
Just a matter of time.
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Pranav Kanade says flows drive price and price drives narrative.
If the narrative is controlled by people who refuse to update their thesis, what happens to the flywheel when they're finally forced to?
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