Dan Tapiero

You know, the markets always are going to cause the most amount of pain to the greatest number of people.

And they're going to, at the moment where, you know, the market says, oh, gold is no, Bitcoin is no longer digital gold.

then all of a sudden maybe Besant decides he's going to add a little bit for the reserve and then it's all of a sudden it is gold again or whatever it is, whatever the narrative.

But the characteristics that we've talked about at this conference over the years on our interviews about sort of the pristine collateral aspect of Bitcoin is still there and at the core of the whole ecosystem.

And in terms of macro moving around, look, I put out a post last week, and I think the Fed Chairman Powell, he's definitely not a criminal.

I think the whole Trump attack is really misguided, but he is a very bad Fed Chairman.

He was- No disrespect.

The worst that I've seen in my life.

And I think if you talk to someone like Scott Besson, who's a macro guy like me, who-

worked for the same guy that i did and um i think you know quietly he would probably see the same thing not in a public venue um you know kept rates too low for too long and then over hiked and then left them too high for doing and now you know it's been clear the employment situation here has been i call it quite dire for the last year and with those revisions yesterday the rates are just much too high

given where the underlying economy is, where employment is, and also what the capital needs are of the country right now.

And I think this is another very important part of why we've had this correction in crypto.

It's just that you're having a company come out with a $1.2 trillion IPO.

You've got AI, robotics, space, all these other things pulling capital away from crypto.

That's okay.

but we're feeling it because there isn't enough liquidity out there because policy is too tight.

And so I suspect the dollar keeps going down.

This is the best and essential policy, even though he won't say it.

And I think this is gonna be very bullish for us over the medium term, gold and Bitcoin.