With the shift of narrative thanks to the banking crisis and the other narrative opportunity

created by Ethereum shift to proof of stake, you have a pretty powerful set of context for

big firms to come back into the space.

Now, it's always reasonable to ask how much we care about big institutions being in this

space and whether those big institutions have incentives that are aligned with this space.

But the fact is,

they drive demand, they drive price, they drive infrastructure creation, and all of that's good

for everyone in Bitcoin and beyond. Welcome back to The Breakdown with me, NLW. It's a daily

podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Thursday, April 27th. And today we are talking about the

institutional narrative as relates the crypto industry. A few notes before we dive in.

First of all, if you are enjoying the breakdown,

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