Today’s edition is brought to you by Consensus Toronto (May 14-16) - the crypto conference where shit gets done.
Grab your tickets here (15% off with code: MILKROAD)
GM. This is Milk Road, the newsletter that breaks down crypto conferences into bite-sized takeaways.
Here’s what we got for you today:
- ✍️ Top takeaways from Blockworks’ Digital Asset Summit
- 🥛 Milk Road PRO Portfolio updates
- 🎙️ The Milk Road Show: Everyone Missed This Fed Move — But It Could Send Bitcoin to $250,000 w/ Arthur Hayes
- 🍪 Trump media and Crypto.com are teaming up to launch a series of ETFs
Update source text: Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.
TOP TAKEAWAYS FROM DAS
Before you dive into this edition, grab yourself a tall glass and fill it with milk.
Every time you read something that excites you, take a sip.
I have two simple goals today:
- Make sure your glass is empty by the end
- Keep you hydrated
Simple enough? Alright, lessgo.
We’ve seen some serious bullish energy coming out of DAS over the past week.
DAS = Digital Asset Summit = Blockworks’ conference for protocol investors (aka the big boys with the big money - institutions).
We initially planned a story titled “The good and the bad from DAS” but with so many positive takeaways coming out of the conference, our hand was forced.
So, here are the top bullish takeaways from DAS that you might have missed:
1/ The first time a sitting U.S. president addressed a crypto conference
(You better be taking a sip just reading that sentence.)
There are a lot of people downplaying this speech because there was no “big announcement” from Trump.
But the sole fact that the President of the U.S. took time out of his day to record a speech for a crypto conference speaks volumes already.
It re-emphasizes the one thing the crypto space has been waiting for: The U.S. is finally opening up to crypto.
(click the image above to watch Trump’s 3-minute speech and get ready to take a few bonus sips.)
2/ 2025 = the year of crypto M&A
We touched upon this last week when we saw the largest crypto acquisition ever with Kraken acquiring NinjaTrader for $1.5B.
But it seems like Coinbase is now asking Kraken to hold its beer:
For those of you who are visual learners, here’s an image that sums up M&A in crypto over the past 6 months:
(Still have milk in your glass? Don’t worry, scroll to the next article and it should be emptied by the time you finish...)
WE’RE HOSTING A MEETUP!
Want to put a face to the people behind this newsletter? Now’s your chance.
We’re hosting a Milk Road Community Meetup during Consensus Toronto (May 14-16).
The reason we chose Consensus Toronto (and not some other conference) is because it’s where shit gets done:
- #1 destination for dealflow (VCs, start-ups and even institutions - everyone’s going to be here)
- Crazy list of speakers (From Kevin O’Leary to Justin Sun)
- Endless side events (including the Milk Road meetup)
None of the fluff, just pure business. 🤝
Get your tickets here (discount code: MILKROAD) and come meet the Milk Road Team!
TOP TAKEAWAYS FROM DAS (cont)
…and we’re back. Remember to refill your glass if you’re a big-sip kinda guy.
3/ The crypto market is showing signs of maturity
Seems like we’re moving from “crypto will revolutionize the banking system” to “crypto is going to improve current TradFi systems”.
We’re not entirely sure how to feel about this.
On one hand, institutions finally see a real use case for crypto and are diving in.
But at the same time, it feels like Bitcoin’s original vision to completely revamp the financial system is slowly being left behind (Jeff Park from Bitwise wraps up this contrast very thoroughly here).
4/ Institutions, institutions & institutions
This is probably the biggest takeaway from DAS: “Institutional direct allocation is real, tangible & happening very quickly”.
(If that doesn’t make you chug the rest of your milk, I don’t know what else to do.)
Big boy money is coming into the space & it’s only going to increase over time.
“But which sectors are institutions most interested in?” - You (probably)
The answer is short & simple 👇
(come back tomorrow to understand how to capitalize on these themes.)
Now, that was a pretty chunky edition so let me just wrap up the key takeaways:
- The U.S. is finally opening up to crypto
- The M&A floodgates are wide open
- The crypto space is evolving and maturing
- Institutions are coming (for real this time)
Hard to be bearish after all that, right?
(P.S. If you still are, we’d love to hear why. Reply to this email and let us know!)
“WE WILL TOUCH $100K BEFORE HITTING $80K”
When this man speaks, the entire crypto space pays attention.
Just yesterday, Arthur Hayes dropped a tweet about where Bitcoin is heading next.
And today, he’s joining the Milk Road Show to talk about:
- That tweet 👆
- Why the memecoin frenzy is over
- The impact of Trump’s tariffs on crypto
Wanna understand the theory behind his predictions? Click below to listen! 👇
YouTube | Spotify | Apple Podcasts
MILK ROAD PRO PORTFOLIO UPDATES 📊
Green week, baaaaby!
It’s been a while since we had one but we’re not getting fooled just yet.
How long will the green last? And what’s keeping us from going full-send bullish?
We’re answering exactly that in this week’s Milk Road PRO Portfolio update!
Go PRO and keep scrolling to find out. 👇
Disclosure: We are not a day trading portfolio so don’t expect a high volume of trades. Read our “how to build a crypto portfolio in 2024” report to learn more about our portfolio strategy.
Portfolio performance 📈
The Milk Road PRO Portfolio saw a moderate increase over the past 7 days. Our portfolio value is at $80.7K, up 9% since last week.
Portfolio prices are updated daily at 6:00 AM ET.
Finally, a bit of relief—a green week for the portfolio. But that doesn’t necessarily mean we’re back on a full-blown bull run just yet.
There are still lingering macro concerns that need to play out, and the market needs a stronger dose of optimism around future economic growth before we can confidently call it a new bull trend.
Portfolio changes 👀
The Milk Road PRO Portfolio is available for Milk Road PRO members only.
Already a PRO member? Log in here.
GO PRO AND UNLOCK:
- Full access to the Milk Road PRO Portfolio, our yield strategies & weekly updates to see what we’re actively investing in 👆
- NEW: Unlimited access to the Milk Road PRO Token Center with token ratings and insights. 🔓
- Weekly “Where Are We In The Cycle?” indicators to help you spot the bull market top before it’s too late 📈
- Weekly reports that help you spot early trends, navigate the markets by limiting risk & catch those sweet cha-ching moments 💰
- Access to the PRO Community, where the Milk Road crew & 1000s of fellow PROs talk crypto. Don’t miss the monthly live events! 🫂
- 50% OFF the Crypto Investing Masterclass 📚️
Already a PRO member? Log in here.
PRO REVIEW OF THE WEEK
BITE-SIZED COOKIES FOR THE ROAD 🍪
Crypto wallets just got a major UX update. With Okto, you don’t need to hold the native tokens for gas anymore. But wait, there’s more…*
You can now make deposits on Polymarket using Solana. I know I said there would be less Solana content with Chevy gone but that’s a pretty cool integration.
Blackrock continues to do Blackrock things. They’ve now launched a Bitcoin ETP in Europe. More institutional money coming soooon.
Trump media and Crypto.com are teaming up to launch a series of ETFs. Most of these ETFs will include Crypto.com’s token $CRO (no surprise here).
If you’re looking to explore leverage trading, Bybit is a top choice. If leverage is not your thing, Bybit is still a sweet spot to invest. It’s got a little bit of everything.**
*this is sponsored content. **this is partner content.
MILKY MEMES 🤣
RATE TODAY’S EDITION
What'd you think of today's edition?
ROADIE REVIEW OF THE DAY 🥛
VITALIK PIC OF THE DAY
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
