Two invisible infrastructures converge in 2026: MiCA's licensed perimeter for crypto-assets, and the ISO 20022 migration of payment messaging. One…
For a decade, the value of a digital asset depended on the promise of a higher resale price. The tokenization…
As of September 11, 2026, the crypto market presents a mixed macro regime. Bitcoin trades near $77,200–77,400, showing a -4.7%…
Three macro variables dominate the pricing of five crypto assets today. The August CPI, released on September 11, is the…
Bitcoin remains anchored as a macro duration asset, with ETF float around 6% of market cap. The repeated rejection near…
Thesis. 2026 marks the global doctrinal shift. Private-regulated dollar (GENIUS Act), public-regulated euro (ECB), public-interest-bearing yuan (PBOC). Stablecoins become a…
Thesis. The 2026 AI cycle shifts from conversational models to "digital workers" (agents) and physical AI (robots, driving, inspection); value…
Thesis. Two "invisible" projects converge in 2026: the completion of the licensed perimeter under MiCA (crypto) and the ISO 20022…
Thesis. Raw materials are regaining a core portfolio role (hedging a multipolar world and AI electrification), while European ESG shifts…
AI will lead to mass dumbing down of society. This is one of the most underestimated risks of AI transformation.…