Jordi Visser

Nothing against the peninsula and the St.

Regis, but that's just the reality of what they get away with.

If you just went around the room and you only selected the people that were reading a physical newspaper

And I asked you, how would you describe what you think those people would be?

Well, number one, they'd be older.

Who wants to get their hands dirty and go through that whole thing again?

But there's still people that do it.

Let's assume it's 10% of the people.

But then if you added up the total net worth of the people in there and what they were the percentage of, it's gonna be close to the baby boomer like ownership thing.

And that's not a negative thing to say.

Now, do any of them own Bitcoin?

I'm gonna say no.

Do any of them own the hyperscalers?

100%.

The reason I bring that up as part of your question, that is the reason why when software is going down, Bitcoin has to go down.

The only time this is gonna change is when those people reading the paper either give their money to their kids or they get greedy.

And it's when the SaaS, the hyperscalers don't go up,

and where Bitcoin does.

That is the multiple compression story.

So Bitcoin, to me, has to be connected to multiple compression.