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![CestrianInc Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1141822758847963136.png) Cestrian Capital Research, Inc [@CestrianInc](/creator/twitter/CestrianInc) on x 4370 followers
Created: 2025-07-17 19:03:02 UTC

I get the logic and I was a professional technology investor through the dot-com boom and bust, as I am now. 

But this is driven by BlackRock et al adopting Ethereum for tokenization.  You have limited supply of the currency, Ether, needed to pay for transaction processing.  

And you have cheap dollar leverage available to scoop up that limited supply.

If tokenization, then ETHUSD up; and if supply is concentrated and levered, then the NAV of the treasury companies will be up.  

They’re just leveraged single-asset investment trusts.

Yes the trend will fade in the end as every trend does, but this is very early in my view.   Expensive leverage or a switch of blockchain choice for illiquid asset tokenization are the biggest risks imo.

I am long the Ether complex.


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