Risk and Utility Protocols
John discusses the paradox of diversification in the current market, suggesting that it may increase risk while decreasing expected returns. He expresses skepticism about the long-term value of native currencies in utility protocols, warning that a significant gap between economic activity and currency value could lead to vulnerabilities, such as a low cost of attack on blockchains. His insights challenge the notion that all crypto assets will capture the value generated by their underlying protocols.In this clip
From this podcast
Capital Allocators – Inside the Institutional Investment Industry
John Pfeffer - Crypto for Institutions (Capital Allocators, EP.54)
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