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BREAKING: 'Am I Too Late to Invest' in Crypto? Here's What TradFi Is Asking Wall Street Analysts

“Am I Too Late?”

It’s the question that haunts every cycle.

But according to Jefferies, one of Wall Street’s top investment banks, the answer is simple: not even close.

In their latest report, Jefferies compared today’s digital asset market to the internet in 1996.

Netscape was still battling Internet Explorer. Amazon was nothing more than a scrappy online bookstore. Google wasn’t even born yet.

“Relative to the internet, it’s 1996 for the digital asset ecosystem, and the next leg of growth has just begun.” wrote Andrew Moss, who leads Jefferies’ digital asset research.

Institutions Still Sitting It Out

Crypto ETFs are live. Corporate treasuries are buying. Token infrastructure is scaling.

And yet… most traditional funds have zero exposure.

That won’t last long.

The debate isn’t whether crypto belongs in portfolios anymore. It’s how much capital to commit - and when.

It’s Not Just Bitcoin

Jefferies also warns against tunnel vision.

Translation: this isn’t just about digital gold. It’s about tokenization, new payment rails, 24/7 settlement, and real-world adoption.

Like the early internet, the winners won’t just be the first names everyone knows.

They’ll be the builders with utility, usage, and staying power.

The Trillion-Dollar Opportunity

Here’s where it gets really bold.

Jefferies expects 10–15 crypto IPOs over the next two years - from custodians and tokenization platforms to staking firms and stablecoin issuers.

And within five years? They see this sector balloon into a $1 trillion public market.

Add in ETFs tearing down barriers and DATs constantly buying tokens for treasury exposure, and the wall of institutional money only grows taller.

The Bottom Line

For every investor asking if they’re too late, Jefferies’ answer is crystal clear: crypto is still in its 1996 moment.

The next wave of adoption isn’t behind us - it’s just getting started. 🚀

Fred Krueger just issued a warning…

The mathematician, serial entrepreneur, and longtime Bitcoin bull just dropped two of his bluntest calls yet:

And then he doubled down:

Fred’s point is simple: waiting for the “perfect dip” is a fantasy.

He sees Bitcoin blasting higher - and believes anything under $200K will look like a bargain in the near future.

Unfortunately for those hoping to top up lower, seasonality backs Fred’s call.

Historically, October, November, and December are Bitcoin’s best months.

Regret is optional. Buckle up. 🐲

Let’s kick off the week with a look at the Bitcoin HODL Waves - one of the clearest snapshots of market conviction.

Each coloured band represents the percentage of Bitcoin that last moved within a specific time frame.

The cooler the colour, the older the coins - with purple showing Bitcoin that hasn’t moved in 10+ years.

As always, we’re focusing on long-term holders (LTHs) - defined as coins held for more than six months.

Here’s how the Bitcoin supply breakdown looks today compared to two weeks ago:

TL;DR: 73.24% of all Bitcoin hasn’t moved in over six months 🔒

That’s a 0.3% drop from two weeks ago.

The latest shifts tell a familiar story:

Short-term cohorts like the 6–12 month band slimmed down, while the 1–2 year range held steady. That points to some lighter profit-taking among newer holders, but nothing significant.

Meanwhile, the 2–3 year and 10+ year bands edged higher, reinforcing the steady migration of supply into stronger hands.

The slight declines in the 3–4, 4–5, and 5–10 year ranges look more like tactical trimming than real distribution.

The bigger picture: long-term conviction remains rock solid.

Strategy and the centralization question: what happens when one firm holds 3% (or 7%) of all Bitcoin? As Strategy continues to amass Bitcoin with the appetite of a hungry hippo, just how much is too much for a single entity to hold?

First Chinese CNH stablecoin debuts as global race heats up. Countries in Asia are embracing stablecoins in response to the dominance of dollar-pegged tokens that currently dominate the market.

Armstrong Outlines Vision for Firm to Evolve Into a Financial Super App. Armstrong shared with Fox Business how Coinbase is navigating U.S. crypto regulation while laying out his vision to make the platform the primary account for everyday finance.

Grayscale submits revised S-1 for Dogecoin ETF as NYSE Arca seeks to modify firm's Ethereum trusts. Grayscale has filed an amended S-1 in its latest move to convert its closed-ended Dogecoin trust into an exchange-traded fund.

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Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

Because what would the crypto world be without its share of memes?

Trivia Answer: Every 4 years 🥳

A Bitcoin halving happens every 210,000 blocks, which averages to about 4 years. ⚡

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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.