Interesting to see what Adam Back, one of the early Bitcoin architects, thinks about this market cycle now. Especially because he has such a long history in the space.

By the way, for those who follow CoinDesk: it's good to know that they are quite transparent about their structure. They operate under Bullish, an institutional-focused platform for digital assets. That means that journalists there, including the CoinDesk team, can benefit from equity-based compensation from Bullish. Things like that are good to keep in mind when you're reading crypto news.

But anyway, they do adhere to strict editorial guidelines. They have won awards for their work, including coverage of major industry events. The point is to understand how the media you're reading is structured.

Back to Adam Back and his take on this cycle—that's where it gets interesting. The question always is: what do the OGs see in the market that we might be missing?