The Political Impact of Crypto on the Allocator Community

I was in town talking to one of our LPs this morning and they were saying, look, we were kind of ramping up to get a little bit more aggressive here. Had been having some conversations around getting into spot. We'd just been doing the venture capital thing for a while but the headline risk is off the charts. And so politically speaking, if you're on one of these big allocators, do you really want to be pounding the table to, hey, let's go buy some Bitcoin? I think it's important to remember that if you step back and look at crypto from a three year, five year, 10 year perspective, the trends are all enormously positive.