00:00And how sustainable is this? Are we are we expecting another crash at any point?
00:04I don't think it's going to be that way now. Remember, this was considered a rogue asset class only 36 months ago.
00:12It's now moved right into the forefront of managers and sovereign wealth funds, etc.
00:19I think the game changer, the waterfall effect was to actually get a law passed around something crypto.
00:27And that was the genius act. It's just a game changer because so many people said this will never get through on a bipartisan basis.
00:34And it did. It's law. It's signed into law. And I think the potential for what, you know, this is basically digitizing the American dollar in perpetuity.
00:44And it's used already for price discovery on most commodities, oil and gas and gold and timber and everything else.
00:50So now you have it in digital form and it makes payment systems far more efficient.
00:55Currency trading far more efficient and gives an option.
00:58Let's say you're living in Turkey or in Venezuela or in Chile and you're not comfortable with, you know, even as an individual, you're not comfortable holding the volatility of your domestic currency.
01:11Well, you could get a USDC, a stable coin.
01:16Now, it may not pay you interest, but it's certainly more stable because it's backed by short duration U.S. treasuries.
01:22And so I think you're going to see a lot of activity in the companies that are issuing them.
01:26If they don't have to pay the Treasury yield, which is about four point one percent, four point two percent right now, that's all profit to them.
01:33So I really think this is a game changer.
01:36And for me, anyways, I've allocated certainly circle stock.
01:42Tether is another way to play it.
01:43Although, remember, this new law forces transparency and audit.
01:50And so to the extent that you can survive these audits.
01:53And I think for me, anyways, my decisions, I'll go a circle of domestic U.S.
01:58company that's already been scrutinized by the SEC.
02:00So there's just so much going on.
02:03And I think you're wise to be tracking this because the amount of capital coming into this space is measured in the billions now.
