Is There an Excess Return on the Cryptocurrency?

I don't think in and of itself, because Treasury's are now, you know, 4%, at some point to the curve that just if having a 4% yield is this massive thing. But it does also mean, for example, institutions never bought gold, really. Because it had no yield. So right now they were all looking at Bitcoin. That was the root of entry. Now if you're a big pension plan, Ethereum, you can do that. Sure, you don't get excess returns right now versus Treasuries, but at least you've got a yield.