Anthony Pompliano

And look at the individual level.

How many people do you and I know over the last decade?

That's how they lived their life.

Every dollar to their name.

I've got a friend who always jokes, he's like, it's like they didn't have any furniture in their house.

They slept in their car.

It was just like, I have to own as much Bitcoin as possible.

great when it was going up.

But now as we've gotten this volatility and these big swings and stuff, they're getting older, maybe they have a family now, they've got some responsibilities, like you're seeing, it's not so much taking risk off, it is just a reluctance to be 100% max risk taking with their allocation.

And so that's normal, though.

Now let's go to the actual liquid underlying.

So what are current views for you and internally at VanEck in terms of Bitcoin?

And then what about all of the alts?

What about companies like eToro or Securitize is now going, Abra, right?

There's a bunch of these companies that are equities that maybe they've been around a long time, or maybe they're kind of the newer cohort that are going public.

What's your evaluation as to the ones that get excited?

Obviously, you can't buy everyone, right?

So how do you start to think about that?

Is it pure equity analysis that you would do for a normal company, or is there some other heuristic that you use?

That seems to be getting a lot of hype, no pun intended, online.