Brad Gerstner

But we also have it in the form of tether, right?

You're now going to allow people to have exposure to the actual underlying goal by buying a crypto asset.

So you have new demand for it.

You do have people concerned about the state of the world, but it's always been a speculative asset plus a store of value.

And I've got a couple of charts here.

You can throw them up if you want.

One is simply looking at the correlation with the S&P 500 over the last 10 years.

And the other one's looking at it with U.S.

debt.

And it's probably chart crime.

I'll go back to what Chamath said.

I can make up any story I want to make.

It tracks the growth in U.S.

debt.

It tracks the growth in risk assets in the S&P 500.

The fact of the matter is it's a combination of all of these things.

And hats off to the people who are up 50% this year on gold.

I just love the fact we now professionalize the wisdom of the crowds.

I mean, we've known for 150 years that crowds are smarter than experts and all these people hanging out in ivory towers controlling the conversation.

Now those emperors have no clothes, right?