You Won’t Believe How Far Bitcoin Actually Is From Replacing the Dollar 🪙

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Amidst the wintry glimmer of studio lights—those cold, unblinking witnesses—Eric Golden, chief architect and soul of Canopy Capital, appeared before the congregation of CNBC’s “Squawk Box.” With the seriousness of a Moscow winter and the resignation of a thawed permafrost, he declared, “Bitcoin, our glittering, misunderstood lodestar, is a long stretch and more from wearing the world’s monetary crown.” The hosts tried hard to appear unshaken. Yet one sensed a suppressed longing for drama—or perhaps just for coffee.

“We are a long, long way from seeing that happen,” Golden murmured, as if describing the distance from the czar’s palace to the trenches. If Bitcoin is to become the world’s reserve currency, Dostoevsky would have time to write three more epics. Still, our analyst cut the gloom: “Crypto is a fascinating vehicle,” he insisted, “almost as sensible in a portfolio as vodka in a tea cup.” To each their own investment philosophy (and beverage).

Stablecoins: Obsession, Power, and Legislative Daydreams 😎

Golden, equal parts financier and brooding philosopher, confessed to a lingering obsession with stablecoins. One imagines him pacing Fidelity’s corridors, haunted by visions of algorithmic stability and regulatory ghosts.
“Now, I think, you see how powerful stablecoins are,” he sighed, echoing the sentiment of a poet watching spring dethrone winter.

March brought Reuters rumors of Fidelity flirting with its own stablecoin, like a young Pushkin contemplating his next love affair. Will passion lead to creation, or just more regulatory poetry?

Golden eyes the GENIUS Act—destined for the hallowed halls of Congress—with hope and a side order of skepticism. “Foundation will be laid,” he proclaimed, summoning images of bureaucrats with hard hats and specters of debate. Should the act pass, perhaps more players will join the stablecoin masquerade, dreaming of payments sublime and financial architectures built less on sand, more on blockchain (or so the story goes).

SEC: From Iron Fist to Velvet Glove 🤚🧤

Golden’s venture, born in the stormy era of former SEC Chair Gary Gensler, struggled through regulation’s labyrinth, collecting bruises and existential wisdom. “Challenging” sounds diplomatic for what was essentially a cryptographic scavenger hunt in Siberia—blindfolded.

Yet when Gensler departed, the SEC’s stance flipped with the suddenness of an April thaw. Bureaucratic hostility gave way to a crypto-hug worthy of a Tolstoyan reunion, or at least an awkward side-hug at a fintech conference.
The fates of cryptocurrencies, like the railcars of history, trundle on—sometimes forward, sometimes derailed, always dramatic.

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2025-06-17 20:02