The DEX boss takes a swipe at Wall Street’s money-making machine, and crypto traders start stocking up
Wall Street’s wealth-making machine just got called out to its face by a leader who came up on-chain. This week, Hyperliquid’s CEO said that Wall Street’s model for creating wealth is unsustainable for most participants. Don’t dismiss it as sour grapes. He built an on-chain perpetuals exchange himself, and HYPE recently traded above $92. He knows the inner workings of this money-making machine inside out.
Break it down, and it’s not that complicated: which side you bet on matters less than whether you’re in the casino or running the house. Wall Street and the house are in the same business—they sell admission tickets. In a long-term zero-sum game, most participants are paying for tickets from start to finish.
HYPE’s own price is wobbling, too. Just a couple of days ago, market analysis was betting on a run to $100, provided it could hold above $92. It’s now at $89.24, so that condition has already failed. It’s awkward to rail against the house off-market while your own token price is looking shaky.
The truly savvy money is doing something else. BitMine has set a hard cap on its ETH accumulation, aiming for 5% of ETH’s total supply—and it’s nearly there. Hyperscale Data has put $56.4 million in BTC and cash into its treasury as reserves, ready to deploy at any time. These two aren’t betting on buttons; they’re stocking the warehouse. They don’t care which way today’s candlestick points—they want pricing power on their own balance sheets.
This autumn, the shift from betting on buttons to stocking the warehouse is accelerating. Here’s my bet: in the next leg of the market, people watching charts will hold fewer and fewer chips, while more and more people stock the warehouse. That’s my thesis, and it can be disproved. I’m ready to defend it.
Two things to watch this week: Can HYPE get back above $92? And will the list of warehouse stockers get any new names? Betting on direction is for the young; understanding where the money is flowing is the mark of an old hand.
🐶 Come check out Old Ma’s little dog ✨🚀
Wall Street’s wealth-making machine just got called out to its face by a leader who came up on-chain. This week, Hyperliquid’s CEO said that Wall Street’s model for creating wealth is unsustainable for most participants. Don’t dismiss it as sour grapes. He built an on-chain perpetuals exchange himself, and HYPE recently traded above $92. He knows the inner workings of this money-making machine inside out.
Break it down, and it’s not that complicated: which side you bet on matters less than whether you’re in the casino or running the house. Wall Street and the house are in the same business—they sell admission tickets. In a long-term zero-sum game, most participants are paying for tickets from start to finish.
HYPE’s own price is wobbling, too. Just a couple of days ago, market analysis was betting on a run to $100, provided it could hold above $92. It’s now at $89.24, so that condition has already failed. It’s awkward to rail against the house off-market while your own token price is looking shaky.
The truly savvy money is doing something else. BitMine has set a hard cap on its ETH accumulation, aiming for 5% of ETH’s total supply—and it’s nearly there. Hyperscale Data has put $56.4 million in BTC and cash into its treasury as reserves, ready to deploy at any time. These two aren’t betting on buttons; they’re stocking the warehouse. They don’t care which way today’s candlestick points—they want pricing power on their own balance sheets.
This autumn, the shift from betting on buttons to stocking the warehouse is accelerating. Here’s my bet: in the next leg of the market, people watching charts will hold fewer and fewer chips, while more and more people stock the warehouse. That’s my thesis, and it can be disproved. I’m ready to defend it.
Two things to watch this week: Can HYPE get back above $92? And will the list of warehouse stockers get any new names? Betting on direction is for the young; understanding where the money is flowing is the mark of an old hand.
🐶 Come check out Old Ma’s little dog ✨🚀
