Jeff Walton

We've got a year of coverage on the balance sheet from cash and six months on SDRC.

We're definitely going to make it to three years old.

We're definitely going to make it there.

So is strategy.

And so what does our balance sheet look like three years from now?

What does that look like?

What does that risk profile look like?

How does this market evolve?

You can build on top of these things.

And some of the most successful projects I've seen recently in DeFi land are instruments that are built on top of these perpetual preferred equities.

You go look at Apex.

I think Apex has raised, I don't know, $200 million for this digital credit DeFi instrument that's tapping international capital that's interested in these yield products.

That's fascinating.

That's going to grow.

The DeFi market on this is going to grow.

And you're taking this perpetual commodity, Bitcoin.

We've converted into two perpetual instruments, right?

Into digital credit and amplified Bitcoin.

And you can build on top of digital credit.

You could build on top of Amplify Bitcoin.