Dragonfly Partners: The hot money in encryption has shifted to the stock market and may retreat after 1-2 years.

[Block Rhythm] On June 17, Haseeb Qureshi, Managing Partner at Dragonfly Capital, stated on social media, “Every cycle, entrepreneurs chase after ‘hot money’. The last cycle meant token issuance. The encryption capital market was exceptionally vibrant then. This cycle is about pushing tokens into the stock market, similar to a ‘financial company’ model. But hot money never stays for too long, and financial companies will not become the ultimate mainstream. I guess this model can last for about 1-2 years until the heat fades.”