David Hoffman

So MicroStrategy has to pay that back to investors, but that's where the capital is coming from.

And his ability to finance this right now is quite impressive, actually.

And I got to wonder if they're going to hit that by the end of this year.

If they keep making these buys, we'll have to keep getting the capital.

Lastly, on markets, FOMC, they had their meeting and the rates were left unchanged.

So the Fed decided to do nothing.

They left the rates at 3.5% to 3.75%.

Everyone on the board agreed, except for Fed Governor Mirren.

So that's Trump's favorite.

Of course, he dissented.

He was in favor of interest rate cuts.

The Fed emphasized there's more uncertainty in the Middle East.

Inflation is increasing.

Actually said that inflation is 1% point above target.

So this is not stagflation.

It's nothing to worry about.

So rate cuts aren't going to save risk on assets.

I guess that's what this tells us.

We got more to talk about, including this, the biggest news, I think, in a long time in crypto.

The SEC and the CFTC are giving us the Clarity Act or something pretty close to it.