Am I the only one who actually enjoys unsustainable businesses like USDC, SVB or Silvergate falling, even if they temporarily drag Crypto prices down too?

It is that time of the year again where we had became so bullish that such an bearish event hits hard and drags all the prices down, it is always a certain black swan event where an unsustainable business model in Crypto (or outside) gets exposed and falls out. This time it was Silvergate and Silicon Valley Bank, two major banks that also had exposure to Crypto.

But in contrast to all other people that are in complete fear because their portfolio value is dropping with it, I actually enjoy it. Call me crazy, but I like it when such business models get exposed and drop as essentially all of them were scams and bad for the market.

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Silvergate Stock -99% drawdown as an example

SVB and Silvergate, even if they were crypto-friendly, we can not deny that especially Silvergate had made plays that made it inevitable for them to fall down one day. I am just happy that it is today.

Now I do not care about the short-term price drawdown there may be in Crypto due to that or the contagion hitting USDC or anyone else. The fact is still that in the long-term Crypto will adjust itself again with new and better partners and maybe people will even learn and restructure the market entirely for the good.

If you feel fear right now, look out of the charts and just feel how no matter what, the next ETH smart contract is been executed and the next Bitcoin block is being inevitably mined.