Its apparent aim is to be a one-stop introduction to everything from the basic principles and technology of cryptocurrency to its most fascinating social manifestations.
Second, because Matt Levine is arguably the most respected financial writer of the moment, at Bloomberg or anywhere else. Levine was an investment banker at Goldman Sachs and an M&A lawyer before, so he brings mainstream, blue chip expertise to the role. The third reason Levine’s big crypto story is so important is because it’s … big, 40,000 words, the rough equivalent of a 160-page book .. It represents a lot of resources devoted to a topic that a few intellectual laggards still regard as nothing more than a sideshow.O.K., so this new crypto story is by the most important financial writer of the day, writing in probably the most important financial publication, at a length that indicates serious commitment.
For instance, Levine writes, “In a sense, the technological accomplishment of Bitcoin is that it invented a decentralized way to create scarcity on computers.” That’s a decade-old insight for many of you reading this. “I don’t have strong feelings either way about the value of crypto,” Levine makes clear. “I like finance. I think it’s interesting. And if you like finance – if you like understanding the structures that people build to organize economic reality – crypto is amazing.”