What To Own This Cycle?

In this episode of the 1000x podcast, Avi and Jonah discuss the recent market movements in cryptocurrency, particularly Bitcoin and Ethereum. They address concerns about a market downturn, attributing recent volatility to new retail investors and leveraged positions being flushed out. They remain optimistic about the market's long-term prospects, anticipating significant moves towards the end of the year, particularly in September, October, and November, while acknowledging a potentially slow August. The conversation shifts to Ethereum's potential outperformance due to treasury companies and institutional interest, with Jonah even making a leveraged trade on ETH during the podcast. They also touch on the institutional cycle, the appeal of assets like Ripple and TON to institutions, and the meme-driven nature of the current market, highlighting Galaxy Digital as a potential meme stock. They also discuss cryptocurrency exchanges, with both hosts favoring Kraken, and touch on the potential impact of US access to perpetual swaps and leverage, as well as the regulatory landscape and potential macroeconomic factors influencing the crypto market.