Jordi Visser

That's it.

That's why when I did the IPO thing, I'm like, guys,

Why would you keep all of your money in Bitcoin?

You have to move some of it into the TradFi world.

You have to move some of it into AI, which theoretically could destroy it.

So that image was meant to show that we're in stage two of my thought process, which I think lasts until humanoids come.

But I think Bitcoin will separate itself from software.

And I think it'll happen this year.

And so for the optimistic side of me, who believes that Bitcoin is the end result of their world of code with no moats,

pretty soon you're gonna have a growth asset that people look to that is scarce.

So the day that you start seeing the software names kind of have a little bounce, but Bitcoin has a big bounce, which would be different than what happened back on Liberation Day.

So every time we've had a fall, to go back to Lin Alden and Sam Callahan,

Bitcoin and the NASDAQ would run together.

That's why it gets this negative thing.

We are out of that world now.

We are now in a world where deflation is destroying multiples on companies built on code.

And I don't think people have adapted to that.

And I think the wealthiest people on the planet who manage money in an industry that I know so well, they don't

believe in Bitcoin.

They don't understand it because it has no narrative.