Unchained Capital, Inc.

So everybody's, everybody's journey and experience is a little bit different.

Um, the Bitcoin though sits with, the keys to the Bitcoin sit with three different institutions, one of which is Unchained Capital, who some of your users, uh, may know of.

They've been in the space and doing self-directed IRAs and financial services for a number of years.

They're based in Austin, Texas.

We had hit peak Bitcoin education in 2024.

Um, and all of the Bitcoin companies like Unchained Capital, these other ones doing lending on Bitcoin, I was like, "I wish I could short them because I'd love to see the balance sheet because I guarantee you it's gonna get worse from here."

Mm.

Because once you got the Tradfi players in the game, it doesn't make sense.

It's a better money that helps everyday people because it's a better technology for, for the money, right? And e- just with everything we should think about, for every dollar that anyone is spending, what's the maximum sort of like value that they can have for themselves for doing that? So that's the free city stuff and then, you know, to get back to your kind of actual question there, right? Um, so I think like since I, um, you know, since I've been working on Ark, I've been moving around these sorts of, these sorts of zones.

So, kind of, I've been lucky to be thinking about them for quite a long time because even at Unchained Capital when we were doing our work, we would be engaging with lots of these.

And if you actually look at some of the most succ- You know, China's not the only model.

This model's just like everywhere, right? It's like we met in Singapore.