Matthew Sigel

Like, don't get me wrong.

There's, I think, a handful of companies that have done smart things around risk management and like Saylor now has a couple of years worth of dividends, right?

Strive now has 18 months worth of dividends and their preferred is back at 99 cents.

Um, so you, and I, you know, and I have some, some, some small positions in that area, but then there's other names like, oh, we're going to give up our ETH strategy and pivot to jet turbines, right?

There's a company that's doing that.

Oh, we're going to abandon our ETH strategy and, uh, or our world coin strategy and pivot to, uh, writing a check to open AI and getting shares.

Like it's just, um, yeah.

not consistent and it's not great corporate governance.

So still a lot of weirdness in this space.

Yeah.

On Bitcoin, the four-year cycle is keeping us from getting max bullish.

So we did, like in Node, we added some the first time when Bitcoin was in the low 60s.

Now we're kind of getting close again.

So maybe it might be time, although I'd like to wait for maybe a lower level to turn up the dial a little bit more.

And the looming midterm elections, which

have the potential to freak people out around data center capex, I think, because of this Bernie Sanders idiocy around banning data centers and whatnot.

But as it becomes clear-

houses of Congress, good chance the market's going to freak out about what that means for growth and for the pro-growth energy capex that's been put into place.

On the other hand,

What's happened in the derivatives market for Bitcoin leaves me much more bullish.