Crypto Goes Mainstream, Which Means It’s Over: Allison Schrager

Two big things have happened in the crypto world this month: a public validation and a semi-private snub. Both of them bode poorly for its future.

The official validation came in the form of the SEC approval of a Bitcoin ETF, which will make it easier for speculators to invest in Bitcoin. The slight came at this year’s World Economic Forum, which I attended, and where Bitcoin — or any cryptocurrency, really — was clearly on the outs. Last year crypto was everywhere in Davos. This year, the star of the show was AI. Crypto, like me, didn’t even ...