Michael Terpin

DeFi will be on Bitcoin, et cetera.

That's their vision.

It may take a long time.

It may be not as fast.

But, you know, if you're able to go and settle on Bitcoin, certainly you don't have to worry about the underlying platform going away.

Yeah, well, you know, I remember when Bitcoin first came out and it first had $1,000 and some Wall Street analysts started to cover it.

And Gil Luria, I believe his name was, who was with Wedbush Morgan at the time, he wrote a report saying that Bitcoin will either go to zero or to a million dollars.

And he put the chance of it getting to a million dollars to be one half of 1%.

People thought that was outrageous.

Wow.

If you took that bet, you made a pretty good bet.

Of course, the bet you would have made would have been to buy Bitcoin at $1,000.

You're up 100x right now.

And that was actually even a high for that cycle.

I mean, it had started the year when it hit $1,000.

It started the year at $11.

It went all the way up to $1,200.

And then a year later, it crashed down to $171.

And then the next cycle, it ended up going to $20,000.

And that's really what the four-year cycle is all about.