Cathie Wood

No, I don't think so.

Bitcoin is a hedge against inflation and deflation because the chaotic part of this is and it's ripping through the markets now.

A lot of

a lot of traditional industries and companies, the whole SaaS space, the disaster, as they're calling it.

We think there is merit to that particular one, but I think you're going to see disruption all over the place because the five innovation platforms that I mentioned

are going to disrupt the existing world order.

And what does that mean?

If these technologies are so deflationary, it's going to be tough for the traditional world that's gotten used to sort of the 2% to 3% inflation.

to adjust.

They'll have to embrace some of these technologies faster than expected.

So the idea of counterparty risk, I think, is beginning to surface.

We've seen it with first brands.

We've seen private equity and private credit especially is where there have been a lot of excesses

SaaS, they are too exposed to that.

You know, are we going to see counterparty risk manifest more broadly?

If so, Bitcoin doesn't have that problem.

And so it is a good hedge against deflation as well as inflation.

I think that, ultimately, he could.

And we have been using the word convergence for a long time.

And I'll give a plug to our Big Ideas 2026.