Crypto Shifts Toward Macro Hedges with Bitcoin at the Forefront
Eliezer Ndinga, head of research at 21Shares, discussed how Bitcoin's macro profile is changing. He believes that easier investment access and demand for portfolio diversification are making Bitcoin behave more like a macro hedge than a purely speculative asset.
Ndinga also talked about Hyperliquid, which he thinks could become one of crypto's most valuable platforms due to its regulated access, perpetual futures, and round-the-clock price discovery. He noted that liquidity, product breadth, and token economics are crucial for traditional and crypto-native exchanges entering the market.
The discussion covered the layer-one landscape through developer growth, user retention, and stablecoin activity, highlighting Ethereum, Solana, and Robinhood's infrastructure as key areas to watch. Prediction markets, consolidation among digital asset treasury companies, and the potential for AI agents to simplify onchain finance and support broader adoption were also explored.
Proper CEO Louis Ridges explained why AI agents may be a better fit for onchain prop trading than humans, and why Hyperliquid is their venue of choice. Regulatory action and tokenization are still moving forward, despite the CLARITY Act's failure to provide durable legislation.