Mm.

But hedge funds have a size limitations for a reason, because if they take advantage of the dislocation too quickly, they will themselves drive the dislocation away, right? So for these guys, I think that's where...

And that's, when you think about treasury company, that's typically where you think today.

Then on the other extreme, so that's the first group, right? I think on the oth- and they are do- they're gonna continue doing what they're doing.

I think on the other extreme, you have business like traditionally, like Berkshire Hathaway, that invest in operating companies, that invest in business, but they are not mature enough in time to really understand that Bitcoin will become the monetary asset that it will become.

It will be a global store of value.

I think it's the best form of money ever invented, right? It's the best form of savings technology that we've ever seen.

That's why I think when people are measuring the asset in a currency without zooming out and think about the old use case, it's just a missed opportunity.

Sure.

You know, uh, uh, chair- treasury chairs coming in and trying to buy the long end of the curve.

Nothing of that happens, right? It's extremely predictable.

You know that every ten minutes a new block, on average every ten minutes a new block's gonna come in.

Three and one-eighths Bitcoin is gonna be issued, right? You know that every four years that halves.

It's all written in code, it's all transparent, it's all open source and we've never seen this.

And going back to, to Berkshire, Charlie Munger actually used to say that predictability should trade at a premium, right? And I think Bitcoin should trade at pr- at a premium exactly because the monetary policy, it's exact- it's a line.

Schedule a free 30-minute meeting with a coach at thebitcoinway.com and they'll hook you up.

whole big

picture a little bit and then we can maybe zoom in.

Yeah, so let me start with the market and then I'll go into like, uh, you know, electron specific.

So, in the market.

Yeah, I think, you know, I've said this, I've been saying this for a while now.

I think we are at the 1st time seeing a bear market in hash rate.

We've never really seen it right.

But I don't think by the same