Head of Crypto Investments at @DTCCapital
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IMHO this is one of the biggest misconceptions in crypto. I was just at an investor dinner with multiple fund managers and someone was talking about how DeFi surprisingly resonates with institutional LPs, many of whom are *extremely* tired of hearing about Digital Gold.https://twitter.com/twobitidiot/status/1220725854835290117 …
DeFi is not perfect but it has elements that resonate with LPs (ex: cash flows). Plus many of the ex-Wall Streeters see parallels from legacy finance developing years ago. It's exciting to them bc they realize how much alpha there is on the table compared to legacy finance today.
Contrast this with Digital Gold. You either believe in that narrative or you don't. Some LPs have been hearing the same Gold 2.0 pitch for 5+ years and are rightly frustrated, especially when Bitcoin has not acted like a Store of Value asset at all historically.
To be far your statement rings the same " I was just at an investor dinner with multiple fund managers " Inner circle these people are in the know. Ryan is speaking of people who have zero to do with crypto and mind share is only BTC.
Those LPs are not full-time in crypto. They invest across the broader investment management universe.
That's because digital gold is easy to understand and acquire: institutional LPs don't need to get screwed for 2/20 to have access to it. The only differentiator for crypto funds is to hawk potential alpha in non-BTC assets. So I'm not surprised at all.
They are there to understand complex financial product ecosystems, ease of understanding means nothing for institutions. We are building a (new) financial system/internet and best way to take part in it is to buy (new) gold? Makes zero sense
@TR401 actually placed how much Financial advisors are interested in DeFi as one of his 3 hot takes last Fridayhttp://nlwcrypto.libsyn.com/tyrone-ross-on-the-next-million-crypto-investors …
It goes to show you how early we are and how narrow minded most people in traditional finance are. Its our responsibility to educate and of course to accumulate cryptoassets that will be the foundations of the future of finance. Feels comfy.
Hello, the unroll you asked for: Thread by @spencernoon: IMHO this is one of the biggest misconceptions in crypto. I was just at an investor dinner with… https://threadreaderapp.com/thread/1220730386097065984.html …. Talk to you soon. 
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