Why Central Banks Will Add Bitcoin to Their Balance Sheets

Automatic TRANSCRIPT

Cathy. It's wonderful to be here with you again. I'm very happy to be here. Nathaniel is fit in lots of action over the last three months. So let's talk. I mean is wild since we talked so much has changed in such a short amount of time. Let's just start. I guess with the question that i think everyone is trying to sort through right now. Which is are we still in a bull market. Have we shifted into a bear market. Is there some weird dead cat. Bounce thing going on where. Where are we in this market cycle and is the cycle that we normally think about it. Even the right stick to us anymore. So we're talking about crypto here. Right crypto specifically. Yeah but i mean turns out it might. It might involve not crypto as well and the answer that question but actually Well we've just we just saw a fifty percent drop so this idea of a super cycle that that would never happen again. Well that's that's out the window. And i do think it was precipitated. By the es g movement to end this notion a which was exacerbated by elon. Musk that there are some real environmental problems here. with bitcoin with the mining bitcoin and And so i think that a lot of institutional buying went on pause. Shall i say and i think there were a lot of expectations that there would be follow through by institutions. We wrote a paper last september october. Saying that we did believe this. New asset class was finally getting the respect that it needs from institutions There have been some leaders out there. Certainly a fidelity and mass mutual and then on the balance sheet you've seen square and tesla micra strategy. Of course of course. And all of these rethought were teeing up the institutional world for some real participation in this space

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