Cosmo Jiang

Jiang notes that while gold and equities boomed earlier in the year, crypto was "forgotten" and is now in a "very oversold position" relative to the long-term trend. He states, "When there's geopolitical conflict, nothing in blockchain really gets impacted." This is a mean-reversion and capital rotation thesis. Investors are fully allocated ("over their skis") in traditional safe havens like Gold and risk assets like Tech. As they rebalance, capital flows will move from "overbought" sectors into "oversold" sovereign-less assets like Bitcoin to hedge geopolitical risk. LONG. Bitcoin is acting as a non-correlated safe haven while simultaneously playing catch-up to broader market performance. Continued correlation with risk-off macro events (e.g., if equities crash hard, crypto might initially sell off for liquidity).

Jiang notes that while gold and equities boomed earlier in the year, crypto was "forgotten" and is now in a "very oversold position" relative to the long-term trend. He states, "When there's geopolitical conflict, nothing in blockchain really gets impacted." This is a mean-reversion and capital rotation thesis. Investors are fully allocated ("over their skis") in traditional safe havens like Gold and risk assets like Tech. As they rebalance, capital flows will move from "overbought" sectors into "oversold" sovereign-less assets like Bitcoin to hedge geopolitical risk. LONG. Bitcoin is acting as a non-correlated safe haven while simultaneously playing catch-up to broader market performance. Continued correlation with risk-off macro events (e.g., if equities crash hard, crypto might initially sell off for liquidity).

Jiang highlights a spike in "agentic activity" where AI bots are autonomously spinning up wallets. He explicitly mentions seeing a "pretty large spike in creation of new blockchain wallets and blockchain transactions on Solana" coincident with AI bot launches. This is Second-Order Thinking: The AI boom isn't just about chips (NVDA); it requires financial rails for autonomous agents to transact. If AI agents prefer low-latency, high-throughput chains for micro-transactions, Solana captures the volume from the AI economy, creating a fundamental demand driver beyond speculation. LONG. A bet on the intersection of AI utility and blockchain infrastructure. Network outages on Solana or AI agents migrating to other high-performance chains (e.g., Sui, Aptos).