João Nuno Simões

We don't rely on external parties.

So we do it in-house, we test in-house and we make sure that it's working better and more flawlessly than any other guys out there and other teams.

So that's the secret sauce out there pretty much.

So this is a complex question.

I do believe that we are living in a very complex world right now, right?

So I think that when we did this type of question at the Inception podcast, my take was probably more generic or like more mega bullish.

Like I'm always bullish, you know?

As one guy, one BD friend once told me is, I've been paid to be bullish, so I'm going to be bullish, you know?

That's the biggest BD ache of all times.

Like I'm paid to be bullish, so I'm going to be bullish.

um yes no so like i think that so first let's look at the classic crypto panorama and classic political state monetary fiscal financial etc so btc has always been a kind of an anti-system coin anti-system currency right so the more wars the more instability we have normally btc goes up in the last

couple of months we have been seeing that sometimes that's not the case why so literally a couple of days ago Arthur Hayes which is someone that I follow very closely like he released one of his latest essays I do like to read his essays very much and he said that

For the first time, you saw the deep peg between NASDAQ and BTC price.

Normally, when NASDAQ goes up, BTC goes up.

When NASDAQ goes down, BTC goes down.

And now you're seeing the, I think it was November, December, NASDAQ continues to go up and BTC goes down a little bit.

Why?

Because the Trump administration, and not only Trump, but also China and like the big

big governments decided that they are supporting AI no matter what.

And AI companies and tech companies are inside Nasdaq.