Cathie Wood Is Not Wrong (Source: Cathie Wood)

Yeah, so crypto is doing a lot.

Again, it's gone up an extraordinary amount over the past few weeks.

So Bitcoin has gained more than 50% since the start of 2024 and is now trading above $90,000 for the first time ever, making some people very rich.

But there's actually this concept of Schrodinger's coin that I can talk about later on if anyone cares.

But I think first we should talk about the reasons behind crypto's recent surge.

I am most interested in Schrodinger's coin, but I guess I will have to wait to find out what that means.

So, yeah, I've been seeing all the chatter about the surge in crypto.

What's the reason that we've emerged from so-called crypto winter into this money-making moment?

Yeah, I mean, I think there's four main reasons.

So the first reason is that a bunch of Bitcoin ETFs were recently approved in the United States.

And so that means that you can buy into a fund and get exposure to Bitcoin without actually owning any Bitcoin.

And Bitcoin is the powerhouse behind the rest of the crypto industry.

So once Bitcoin starts going up, everything else starts going up as well.

Specifically, these narrative-based assets, which are dumb things that people can build stories around like a Dogecoin and Shiba Inu.

And then crypto does go through cycles.

So the second reason is it's cyclical.

And I think the third reason behind crypto's recent surge for Bitcoin specifically is Everyone was trying to figure out if it was a currency or an investable asset.

So at first, everyone thought that it would be used for payments, right? That was Satoshi's original vision.

But it's not a transactional tool like a currency.

It's an investment tool.

It's digital gold.

It's not the Canadian dollar.

And then this is the fourth reason why crypto has potentially gone up is the Bitcoin halvening.

Wait, it's called halvening, like breaking it in half? Why is it called that?

Yeah, yeah, yeah.