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 Sunday, April 28th, and that means it's time for Long Read Sunday.

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All right, friends, well, for this LRS, we have what is a very interesting topic.

It's an argument from Brandon Sedo that Bitcoin will power the next defy summer.

Now, there's a lot of conversation around Bitcoin and the changing nature of the tech stack around Bitcoin as we have been around

the halving. And this is related to that conversation. Let's read the piece and then we will come back

and discuss it. Brandon writes, in 2023, we said goodbye to crypto winter. Now it's time to say hello

to a new era of Defy Summer, this time centering on the most buzzworthy yet also durable trends. Bitcoin.

With ordinal's proving demand, exchange-traded funds, providing access, and Bitcoin-scaling

solutions emerging, 2024 is set to unlock the $1 trillion asset class in ways previously unseen.

The initial defy revolution in 2020 centered around smart contracts unleashing blockchain utility

beyond the simple maintenance of a ledger and asset.

It transformed the technology into a platform for vast interoperable financial ecosystems.

On the Ethereum virtual machine, people worldwide could essentially become their own banks,

accessing hundreds of interoperable financial applications.

This evolution offered a promising look into a

future of finance governed by immutable code rather than fickle human beings. As Defy Summer unfolded,

...