Chris Kline

I think the conversation is, are we past the traditional cycle?

And is there a potential for a super cycle?

Because every other cycle before was mostly, I call Bitcoin and crypto the people's currency.

This was retail driven.

It's guys like you and me that are saying, and I love that about it, by the way, because it's a grassroots concept.

And now you've got the institutions here.

You've got billions.

The fastest growing to 80 to 100 billion ETF ever was the iBit ETF.

So now you've got institutions, you've got race to reserve from major countries stacking it, whether the United States, and none of them are admitting to what they're doing, because if you were going to go buy $100 billion worth of Bitcoin, would you tell anybody?

No, you would spread it across, you'd TWAP your way through, you'd be very strategic off and on chain OTC.

so that you could get the best price for it.

And that's what's happening, a lot of posturing.

If that hits at the same time, when I was at the Bitcoin conference, I used to say, you know, the third Ocean's, I think it's like Ocean's 13, where they have the drill that's under the casino and they're trying to scare everybody out of the casino to take the money.

And the first one, like, it shakes a little bit, and then everybody goes right back to gambling, and they're like, you got to hit them harder.

We haven't seen the tsunami retail wave yet.

This 120, 124, people are like, well, it's kind of been over 100 for years.

It goes back and down.

Even just in the last week, people were like, oh, it's a doom.

We're back below.

We went from 124.