The Correlation Between Bitcoin and Risk Assets

I'm going to push back slightly on the correlation with risk assets. Bitcoin has a lot of headwinds that risk assets don't have, and I don't think interest rates are going to be coming down anytime soon. It's not like there's nothing else, such as AI, that is a risk asset. You and Tether. It's a joke, but we saw that Tether made over a billion dollars in a quarter, and that's just because interest rates are high and they're buying short-term bonds. So if they don't try to fix it, no, I'll call it. Circle as well is running a very profitable business model right now.

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