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Bitcoin

The $3B valuation for a 2015-founded industrial SaaS company (Stord) reveals institutional capital prioritizing cash-flow-positive legacy tech over crypto's speculative growth, contrasting with 2021's 'everything bubble' when crypto valuations soared. This reinforces crypto's current status as a non-correlated risk asset, with traditional venture capital acting as a pressure valve absorbing liquidity that might otherwise seek crypto exposure during rallies.

Stord raises $250 million in funding at a $3 billion valuation.