00:00 Speaker A

The crypto community for so long has been calling for institutional adoption, right? And institutional adoption finally seems to be happening. So how do you now look at the institutional ownership versus retail ownership and the sort of dynamics between the two? Because they, you know, they do tend, at least in other asset classes, they tend to behave a little bit differently.

00:37 Speaker B

Yeah, absolutely. You know, one of the things I love about crypto is it was started at the retail play. Uh, this was driven by, I call, Bitcoin, the people’s, uh, the people’s currency because it is the democratization of money. Uh, institutions are here. We’re so happy that they are here. I was just on a podcast in a Twitter space last week talking about, you know, what kind of dynamics take place here when the institutions come in. Well, we invited them in. We brought in the ETFs. Uh, we brought in all these layers for them to be a part of the process. Um, what I’m really excited about is to see the financialization of the asset. So I think institutional adoption is the legitimization of the asset, but now we’re going to get into the financialization of the asset, which is people using Bitcoin to either not just accumulate, but use as operating expenses, also to make yield. You’ve got covered calls, you’ve got staking, you’ve got all these other tools that are coming to play, which were not available four years ago because we had regular regulatory uncertainty.

02:35 Speaker A

And, and how is this stable coin adoption going to be good for Bitcoin, right? Why is that going to lend to the ecosystem rather than just being good for stable coin?

03:01 Speaker B

So stable coins are really kind of our way, the world’s way, not my way, or our way, it’s the world’s way of getting rid of the middleman and e-commerce and internet online trades. Uh, so right now, a lot of things have to pair to the US dollar or some other fiat currency and then pair back somewhere else. Stable coins are really designed. We used to use them as crypto guys back in the day because we couldn’t get access to a particular coin from a particular exchange. Now they’re going to be used to settle and complete transactions for e-commerce. This is a whirlwind of change that’s going to take place that I think it’s kind of under the curtain right now, but it’s going to show its face. Beyond that, now you’re in a USDC, USDT environment. So if, if you’re a merchant services provider or you’re a e-commerce provider, you’re now accepting payments in stable coins and you can simply pair those to digital assets that may be part of your treasury moving forward. So they’re, they’re in harmony with each other. They’re actually not mutually exclusive.