Tom Schmidt

I'm glad I'm the BFF, not Hasib.

I've seen him on Bankless too many times, so thanks for having me.

You know, I'm gainfully employed, so I felt like it's very difficult to do both that and be at the Knicks parade.

But it looked insane.

I was like, Fulton Street is completely jammed, full of people.

So I'm also happy to just observe it digitally, you know.

I don't get it.

I'm also, you know, I'm one of those bandwagon Knicks fans, so I can't really cop to being a Knicks fan.

I'm just like, I'm here.

Yeah, I think this is really the first time I think we have strong evidence that sailor and strategy are weighing heavily on the market.

People have been saying this for months, like, why is Bitcoin going down?

Why is it being underperforming?

And people say, oh, well, there's the sailor risk, but the market was not reflecting that.

And, you know, it's kind of like, you know, you look at the bonds market, the bond market to determine, you know, sort of confidence in government and credence around government policy.

This feels like, you know, the sort of,

tariff tantrum equivalent, but for Sailor.

Yeah, obviously, Saylor sold a couple of Bitcoin to inoculate the market, quote-unquote.

And then, obviously, after the fact, announced that he bought several times more Bitcoin.

But I think...

It seems like this is always going to be a looming issue.