Ryan Sean Adams

Were there any signs, aside from the markets going crazy, the frenzy, the euphoria, the massive price gains, you know, multiple times, you had three separate 30% plus, whatever, 30 to 45 day events.

Yep.

Besides all of those things, were there any signs and how did it end?

So if you sum all this up, I'm kind of hearing, maybe I'm reading between the lines, but of course, can't tell whether this is the top or not for NASDAQ.

Definitely stocks are not cheap at this time.

But we could be in a period like 1999 where there's still greater gains ahead and blow off tops.

And it's always painful to be out of the market when that happens.

Now, I know you're not an active investor in the stock market.

You're more looking at the stock market in the context of the moves that you want to make in crypto.

So let's say it's like 1999 and there's still more growth ahead for the stock market.

Where do you think crypto goes?

So let's say the market goes up and then crashes.

Does crypto get pulled along with it?

And then do we have to reestablish ourselves in a new regime?

I guess maybe sum this up in terms of how you're playing it on the crypto side.

Yeah, I know you and I have been talking on the weekly TDR podcast about sort of this battle between the bears and the bulls that's going on right now and who's going to win.

And so we're in this interim period.

I think you're like about 50% deployed into crypto and 50% dry powder on the sidelines and waiting for the market regime to reveal itself further.

Yep, yep.

This has been great, Mike.