This would be the equivalent of MSTR raising $200B to buy BTC
Ethena is one of the few legit projects in crypto that still has massive growth potential
Perps will expand beyond crypto and eat finance, and $ENA will be one of the top benefactors
Definitely the highest risk/reward position in the market by far.
Downside protected by guaranteed long-term spot buying, upside guaranteed by long-term spot buying.
Two fundamental theses
1. Perps are coming to a $120T global equity market that could 30x the yield TAM for Ethena
2. Hey I recognize this pattern
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