What we are witnessing now in crypto, with bitcoin nearing $100,000 and a bull market gearing up, is absolutely nothing compared to what we're going to witness in 2025. What happens in crypto next year will be one of the defining events of this decade. 

Here is a probable truth: Donald Trump is interested in deregulating crypto principally to enrich himself by billions of dollars. But, here is another probable truth: Scott Bessent, the incoming Treasury Secretary, is an amazing intellect who is interested in deregulating crypto to spur trillions of dollars of investment and innovation. The positive effect of Bessent's trillions will dwarf any negative effect of Trump's billions.

I have been tapping my network to learn more about Bessent in the past week. He and I are both Yale alumni, and Bessent was actually an adjunct professor in economic history at Yale when I was an instructor there in medical history (but I did not know him personally). All of my contacts say that Bessent is a brilliant and intense…