WEBVTT

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If Trump wins that election, obviously
those two people will have less influence.

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Elizabeth Warren will still be in the
Congress, but Gary Ginstler will no longer

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be the se C chairman. This
will still be a new group of elites

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that are running the SEC. So
the question is, though, will that

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be better or not? I don't
honestly know the answer because Donald Trump has

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spoken very negatively about bitcoin. This
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more about Uphold, please visit the
link in the description. Welcome to the

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00:01:06.959 --> 00:01:11.799
Thinking Crypto podcast. You're home for
cryptocurrency news and interviews I have with me

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today Anthony Scaramucci, who's the founder
of Skybridge Capital and Salt Conference as well

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as an author. Anthony, great
to have you back on it'sprazy to be

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here with you. Man. I
love your whole setup. I like the

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bowl in the background. Of course. I like your bitcoin clock when it's

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blinking green and heading north. But
God bless you, thank you for having

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me. Yeah, Anthony, you
know I'm a big fan. We've talked.

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We've spoken over the years. I
noticed you just got back from Davos.

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How was it and were there any
major takeaways for you? Well,

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you know, let me set the
severe though. In twenty twenty three,

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when I got back from Davos,
I was interviewed by Bill cohyin from PUCK.

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He said, would you learn in
Davos? I said, well,

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Bitcoin's going up? What do you
mean by that? I said, well,

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I didn't meet a person at Davos. I didn't meet a member of

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the White Badge delegation. Those are
the people that you know, are the

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diplomats and the heads of state and
policymakers and central bankers and CEOs of large

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companies. I didn't meet one of
those people that liked bitcoin or thought bitcoin

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had any legs. In fact,
many of those people were telling me that

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bitcoin was a dead asset and it
was a road to nowhere and soon to

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be a ghost chain. And so
what I find about Davos is the collective

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wisdom of the elites because they're trying
to impress each other, and you know,

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that was the trend at the time. They all hopped out on that

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and they got it wrong. And
so this year there was a muted situation

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in Davos. So meaning of you
talk to somebody said, oh, I

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hear bitcoin had a great year,
but really, who cares. It's an

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in significant asset and the blockchain itself
is insignificant, and Web three is not

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going anywhere, and we're traditional finance
people. And then of course Jamie Diamond

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gave a pretty high profile interview on
CNBC where he routed bitcoin and other blockchain

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oriented asset So I take all of
that as extremely positive. And so that's

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just my view. I feel like
we have another great year in bitcoin,

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not just because of the ETF and
the having but because we still have fence

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sitters and naysayers, and the way
markets work tone is that you got fence

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sitters and naysayers as they come off
the fence and they stop nay saying,

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the price goes up. If you
have no fence sitters, you have no

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nay satters, and you and I
gotta be worried. We got to talk

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about that being a top and Anthony, I almost treat Jamie Diamond now as

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like a contrarian indicator, like if
he's continuing his flood, I am because

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I watched this man since twenty seventeen
say the same thing and same thing.

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But bitcoin continues to grow in price, an adoption. Now we have to

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eat apps. It's historic. So
it's like, okay, Jamie continue,

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please, Yeah, well listen.
I mean, he's one of the smartest

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people in finance, but he's got
invested interest in what he's doing, and

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he's also got a way of thinking
that has made him and his family over

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a billion dollars. He's arguably one
of the most successful financial services executives in

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US economic history, sitting on top
of a largest, most successful bank in

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the history of the United States.
So I have an enormous amount of respect

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for him. But what I do
find with people like Jamie of his vintage

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of his eerror and I think Jamie's
sixty seven. Now, if you don't

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do the homework on bitcoin and you're
opining on it, you're probably a pining

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negatively because of your life experience.
But if you do the homework, and

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contemporaries of Jamie would include people like
Stans Ruck and Miller, Paul Tutor,

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Jones, Ray Dahlio. Those men, they did the homework on bitcoin,

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and they drew a different conclusion and
would I would say something to you that

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I would hope your viewers and listeners
would contemplate. The more homework you do

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on bitcoin, the more you go
towards bitcoin. I sort of feel like

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bitcoin research and bitcoin due diligence is
a one way ticket towards bitcoin. I

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have yet to find somebody says,
you know, I read everything, got

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steeped in the understanding of the code. I got steeped, the understanding of

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the network and the decentralized nature of
the network, and the fact that hasn't

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been hacked and has been up and
running for fourteen years. I did all

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the work, and I hate bitcoin. I have yet to hear anybody do

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that. So you know, we'll
get there. You know, Jamie's an

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example of somebody that probably would needs
to do the homework. Larry Fink,

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on the other hand, You know, two years ago I met with Larry

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and Abu Dhabi and we were in
the lobby of the Four Seasons Hotel together.

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He was very negative on bitcoin,
right, and he said, well,

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he was positive on stable coins,
he had just made an investment in

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Circle, but he was very,
very negative on bitcoin. And here we

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are two years later, he's all
in and he's talking about the tokenization of

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assets, the digitization of assets,
and he's trying to make ibit, which

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is the black rock ETF, the
largest bitcoin ETF. In fact, if

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you took the eleven bitcoin ets,
this has been the most successful launch in

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terms of aggregate dollars in ETF history. So I admire Larry, you know,

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because Larry, you know what they
say. You know, smart people,

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when the facts change or they've been
influenced by greater knowledge, they change

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their decisions. You know, you
don't have to stay in a certain realm

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if that realm is no longer accurate. I can't tell you how many times

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in my life I've gotten something wrong
And what's the move? You got to

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make an adaptation, and you have
to admit that you're wrong and go in

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a different direction. So I admire
Larry think for that and not to focus

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too much on Jamie. But at
the same time, while he's saying all

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these things, JP Morgan is involved
as a participant with the et apps.

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They're testing DeFi with Avalanche. They've
been invested in consensus, which you know,

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of course build ethereum. So it's
fascinating that these two things are happening

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in parallel. Is Jamie almost at
the point where it would be embarrassing for

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him to switch his opinion because he's
made such a hard stance. It's a

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good point, you know, I
don't think so. I think Jamie's a

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self confident guy, very secure.
I think if he changes his opinion,

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he'll say, hey, I got
that wrong. I'm going to change my

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opinion. I don't think he's gonna
inject too much pride into that decision making.

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Something else is going on. Actually, you know, there's pressure on

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him from regulators. He's got to
deal with the Elizabeth Warrens of the world.

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There's pressure in the system as a
traditional finance representative. But listen,

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you know you know this and I
know this. JP Morgan. As you

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mentioned, they're an ap on the
ets for people. They're producing research on

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bitcoin, they have their own coin, they have built the element of the

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blockchain. You can call if you're
having an account at JP Morgan in the

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private bank, and you call them
and say, hi, unsolicited, I'd

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like to buy twenty five one hundred
thousand dollars worth a bitcoin something like that.

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No problem, They'll buy for you
and they'll put that cusiup in your

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account. Sit there with the Blackstone
Bitcoin Trust and is JP Morgan account.

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Yeah, it's absolutely no problem.
So right, yeah, well, they

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definitely want to make money and we'll
see what else they decide to do with

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crypto. You know, speaking Elizabeth
Warren, I'd love to get your thoughts

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because we're going to talk a bit
about politics and the upcoming election cycle.

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We've seen this very hard stand from
Elizabeth Warren. Obviously under the by administration

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as well, there's been a lot
of knee jerk reactions to crypto and look,

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maybe FTEX didn't help that, but
then you know, you have Gary

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Genser who's under the control of Elizabeth
Warren. He's losing in court, but

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he's not given up, you know. If you think this thing ends after

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the twenty to twenty four election,
well, you know, if Trump wins

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that election, obviously those two people
will have less influence. Elizabeth Warren will

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still be in the Congress, but
Gary Ginstler will no longer be the se

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C chairman. This will still be
a new group of elites that are running

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the SEC. So the question is, though, will that be better or

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not? I don't honestly know the
answer. Because Donald Trump has spoken very

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negatively about bitcoin. Now, Vivic
Bramaswami has convinced Donald Trump that he should

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never have a central bank digital currency, so Trump is behind that. Now.

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I think Trump also made some money
on these NFTs that's gonna ask,

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so maybe that's going to open his
mind to the world of digital assets and

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web three. But I don't think
eighty year old people Donald Trump, seventy

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five year old Elizabeth Warren, eighty
year old Joe Biden are the right people

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to make regulatory decisions about this asset
class. So I don't necessarily think a

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Republican win is going to be better. It may end up being worse in

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some ways. So we'll have to
see, you know, as it relates

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to crypto in general. You know. Now, what's really interesting is yes

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Againstler came out and said, well, despite the fact that we approved against

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my greater wishes, we approve the
ETF. I am now letting you know

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that that may be the last one. I'm not going to approve the etherey

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of ETF. And and you know, look, there'll be lawsuits about the

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ethereu of METF, but I'll just
give you his brand of thinking. If

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he approves the ETF, and every
one of those pillows behind you is going

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to get an ETF, you know. And I don't think he wants that,

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and so you know, we can
argue about it, you know,

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but I mean, and he could
lose the court cases, but that doesn't

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mean he doesn't have tricks up his
sleeve to delay this stuff. You know,

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that bitcoin ETF should have been approved
in twenty fourteen, Yeah, you

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know, and it would have saved
retail investors. It created the Grayscale debacle

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with the two percent fees in the
discount and the surplus and all that stuff

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that happened to the Grayscale Bitcoin trust. Because it wasn't an ETF, all

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of that stuff could have been avoided. But you know, we're not in

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it anymore for protecting the investor.
We're not in it anymore for advancing financial

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innovation. We're in it for politics. And that really sucks for the country

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because I have met with people from
around the world, particularly those in the

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UAE. I've met with regulators,
and the regulators say, yeah, no,

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our politicians and our ruler is agnostic
to our regulatory process. If it's

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good for the country, and it's
safe and sound and it's transparent, we're

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good. There's nobody calling jab owning. Oh I woke up this morning.

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Don't like crypto? Let's ban bitcoin
in a country that has twenty two percent

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of the world's GDP. Now these
ETFs going live certainly historic. Do you

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feel we've lost the chasm of you
know, bitcoin and crypto going mainstream.

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There's and there's no longer any type
of hesitation or psychological barrier. You know

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a lot. I don't know about
this stuff right, or it's too complicated

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for me to try to buy it
on coinbase, But now it's Hey,

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black Rock has it, Fidelly has
it? I know these names, I

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trust these names. Hi, everyone
part in the interruption. I'm Tony Edward,

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00:13:26.440 --> 00:13:30.559
the founder and host of the Thinking
Crypto podcast. I have a you

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favor to ask you. If you
haven't subscribed as yet on YouTube or the

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00:13:46.039 --> 00:13:48.840
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Thank you for your support, and
I'll let you get back to the content.

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Really really really good question. And
so I think we have crossed that

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chasm. I think this sloppiness is
from the price differentials. Okay, So

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if I own the Gray Scale Bitcoin
Trust and it's finally traded back to par

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and I bought it at a loss, maybe I bought those coins at fifty

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sixty thousand, my proclivity is going
to be to sell those coins, and

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if I want to stay in bitcoin, to buy the bitcoin etf after I've

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sold that. And so you're seeing
a tremendous amount of sloppiness, you know.

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I think there was another four hundred
million dollars worth of bitcoin on chain

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this morning, moved from the Gray
Scale Bitcoin Trust into an exchange to liquidate

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that, and I think they're going
to have heavy selling. Now you'd say

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to yourself, well, why did
they go from two percent to one and

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a half? Everyone's out else at
twenty basis points. I think they need

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the fees, and I think they're
making the bad There's a lot of people

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that have low cost tax lots,
low cost tax bases and are not going

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to necessarily sell to save one hundred
and twenty basis points, which is the

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net differential between the fees of the
ETF and Grayscale. Do you feel that,

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and I want to make sure I
phrase this question correctly that it's almost

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like the crypto startups, the kids, so to speak, are being put

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to bed and the adults, the
Wall Street firms are here. Maybe with

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the exception of Coinbase, because Coinbase
has gone public, it's shown it it's

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a reputable business and company they partner
with black Rock. But finance, it

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looks like, you know, they're
going to be under a scrutiny and the

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biggest fine I think it is in
settlement. And you have all these other

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firms like Grayscale seeming like they're losing
market share now. Really good question.

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So so I obviously I think Coinbase
is going to be fine. I think

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that they are such a big part
of the crypto ecosystem and all of these

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ETFs are transacting with Coinbase. Coinbase
has an interesting lawsuit going on right now,

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Visa v. The SEC. It
sounds like the judge is very well

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prepared, asking super smart questions related
to that lawsuit. It could come to

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past tony where the SEC loses another
case. Could you imagine that? I

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mean, they would have lost the
Ripple case, they would have lost the

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Grayscale case, they lose the Coinbase
case. I think at that point it's

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a little embarrassing for them in terms
of the way they're administering the laws.

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I think it's prima facia they're acting
as politicians and they're being politically influenced more

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than they are adhering to or following
the law. But when you talk about

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grown ups in the room, Base
we'll have its market share, JP Morgan,

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despite the sentiments shared by Jamie Diamond, we'll have its market share.

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Goldman has gotten into the mix.
And yes, I think that the asset

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class is growing up. I don't
think some of the larger baby companies to

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use your analogy. Are going to
get hurt that badly because I just think

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it's just going to be overall growth
in the ecosystem. But you know,

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it's not going to surprise me if
we're sitting here a year from now and

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the biggest brokerage firms have bitcoin available
as an investment, the wirehouses have approved

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it for their core portfolios. You
know, you could have somebody like Blackrock

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and their total return portfolio. It's
a two trillion dollar portfolio. They say,

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okay, we want a one percent
exposure. It's two hundred billion dollars

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in bitcoin. Just think of the
magnitude of that, right, So maybe

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the portfolio arrangement will eventually be sixty
thirty, ten, ten go. Maybe

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we don't know. Who knows?
Yeah, I think it's amazing. I

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think you can't see the future.
But if the future is exponential by you

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and I both believe, then it's
very bright. The question is what's going

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to happen your term. I don't
know the answer to that. But are

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we sitting here at an all time
high between now and the end of the

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year. We have eleven and a
half months to go, and we have

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a big having cycle taking place in
April. Could bitcoin get through the sixty

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nine thousand dollars level by the end
of the year, I believe it will.

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Yeah, selling will have abated from
Grayscale and the machines of Wall Street

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will be selling this idea to their
clients. Yeah. And I've been talking

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to quite a few of the issuers. Spoke to Kathy at Arkanbat and the

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guys. It's a bit wise,
and they have their marketing plans to educate

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rias and wealth managers. It's coming. Man, even my own personal financial

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advisor, you know, I've been
talking to him about it for a while,

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and you know, he's like,
yeah, we can't touch you,

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blah blah blah. Now that the
ETFs are alive, it's a different story.

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Everybody's curious. I mean, I
mean, think about all the road

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that we have ahead of us,
right, I mean the road to get

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here. All of these early adapters
are being rewarded because it's now going mainstream.

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But you're just getting started on the
mainstream road. You know. To

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put it into the context, there's
only four and a half percent adoption globally.

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That's roughly where we were in the
middle of nineteen ninety eight for the

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Internet and web one. So just
imagine where we'll be in ten or fifteen

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years. Yeah. Absolutely, It'll
still be a nice young pup. I'll

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be fighting to keep my hairline.
What I'll be doing tell us about skyper

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Bridge is a strategy. I know. Obviously you guys have been invested in

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crypto and bitcoin, I think ether
as well. Are you adding new tokens?

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Are there any new things that you're
looking at for twenty twenty four?

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Yeah, well, you know,
I always I'm very open about my portfolio.

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We own Casper Labs, I own
a small gaming token called vulcan Forge

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as simple as Pyr. We own
Algoran, which we think still has great

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technology and just perhaps may have misfired
as a layer one in terms of scaling

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its TVL but I think their relaunch
is going to go incredibly well. We

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own Salana, and we own Bitcoin, and we're we've been buying Avalanche.

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So to me, those are high
quality, great core assets long term.

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Some are more speculative, some are
stable like bitcoin, and so even though

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bitcoin has an eighty to one hundred
volatimes, I still see that as the

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granddaddy and more stable, and so
for me you know, for Skybridge,

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our goal educate our people, expand
our market share. We have some private

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equity securities that we're offering, you
know through this. We have this thing

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called the Skybridge Unicorn Recovery Fund.
We've got investments in things like Klarna and

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Liquid Death, which we think are
going to be great free IPO investments.

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We have our coin fund, which
was up one hundred and sixty percent last

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year. That's a diversified group of
tokens. Some are the ones that I

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just mentioned. And then we have
our hedge fund fund of funds, which

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had its best year in Skybridge's history
last year. Our offshore fun up thirty

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six, our on shore fund up
twenty five. It's truly been a great

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year for us, and I see
that this year is being equally good.

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You know, now, who the
hell knows. I've been humbled by life

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and morgage. Maybe I'll get it
wrong, but the bitcoin goes to seventy

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thousand this year, we'll be happy, Camper clients at Skybridge, both the

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employees and the customers you're at Skybridge
will be very happy. Now speaking of

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market's outlook, and you know what
may happen. We see the FED looks

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like they're going to cut this year. I don't know. You know,

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there's a lot of speculation on maybe
a cut in March. Hey, whatever

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it is. And look, eventually
the money printer is going to have to

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be turned on to print to pay
for all the different things that are going

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on. They've raised the debt ceiling
and all these different things. What is

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your outlook for the FED and how
they will take action because that has affected

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markets? Of course, Well,
it's an election year, and so I'll

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say a couple of things. The
Stock Trader Almanac one hundred and twenty five

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years of election year option cervation eighty
five percent of the time the market goes

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up in an election year. But
we didn't bet against that trend. Secondarily,

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sorry, excuse me. The FED
has said that they're more or less

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done raising rates, and it being
an election year, and I know they

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try to be a political they're sort
of political. They'll probably start cutting race.

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The question is how much will they
cut and win? And I think

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when they say higher longer, I
just think it's going to be lower longer.

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And what do I mean by that? Probably don't cut race until the

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second half of the year, and
then they cut them pretty quickly. But

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I think that they'll probably leave people
with an impression that they're not cutting him

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in the first half, and then
by June July they'll start cutting them.

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Anthony. The history has shown us
anytime the Fed pivots and they start cutting,

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there is a pullback on markets.
So you think it's going to be,

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you know, maybe a short term
pullback. It's going to be sharp.

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But like you said, it's election
year. Maybe they start the money

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printer again and things are back to
normal in a month or two. Yeah,

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well, yes, you know,
and the market's gone up a lot.

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I'm talking about the stock mortgage.
So if the Fed cuts rates and

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the market doesn't move a lot,
it won't surprise me because it's been anticipatory,

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the same way Bitcoin went up a
lot into the ETF news once it

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got announced. Situated a little bit
sloppily. But I do believe that interest

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rates are the physical gravity of financial
assets. You lower rates, you're going

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to increase the value of those assets. It's just the way it works.

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So lower rates will mean to higher
bitcoin, lower rates wi mean to higher

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ethereum, and so it'll be generally
a good thing, will it happen instantaneously.

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No, but will it happen?
And sure, Remember these things are

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what Buffett once said, the markets
are a voting machine or a popularity contest

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in the short term, but they're
a weighing machine over long periods of time,

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where they weigh the fundamentals of something. And so you could be sitting

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00:25:15.400 --> 00:25:21.119
here at lower interest rates and bitcoins
set up over one hundred thousand. Not

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00:25:21.200 --> 00:25:25.519
impossible. Yeah, I personally think
that's what's gonna happen. But I hoping

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I'm right. That'd be really nice
question for you for the election that's coming

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up. I seen your tweets and
now you talked about like you don't think

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Trump is gonna win? Do you
think Biden gets re elected? And I'm

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hoping, I'm praying that we get
some like fresh blood, younger like of

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Avack or you know, I don't
know. Sometimes I get frustrated with the

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candidates that we have. Look,
I mean, they think is not going

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to be president. He's obviously dropped
out of the race, and RFK is

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00:25:56.240 --> 00:25:57.480
not going to be president. He's
in a third party. He's not gonna

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get enough of the vot vote.
The question is is Trump going to be

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president again, and so I don't
see it because the country's gotten browner and

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blacker. The mosaic of the country, this beautiful, colorful mosaic of America,

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has changed once again. It's a
different country than the two thousand and

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six teen version of this country.
And the second thing, which I think

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is important is how has he expanded
his base. He's become intolerable to a

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very large group of people. And
the Nicky Halley voter, when questioned about

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the election, they say, oh, no, I could never vote for

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Trump. Forty three percent of them
said not going to support him in the

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00:26:38.920 --> 00:26:45.200
general election. Seventy percent of the
New Hampshire people not support I voted for

336
00:26:45.279 --> 00:26:49.359
Nicki Haley. He's not getting my
vote. And so you need that crossover

337
00:26:49.480 --> 00:26:53.559
vote after a primary. You need
a healing process and a party, and

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you need the crossover vote. Reagan
got it from Bush, Hillary Clinton.

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00:27:00.039 --> 00:27:04.319
She did not get it from Bernie
Sanders. Barack Obama did get it from

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00:27:04.400 --> 00:27:08.319
Hillary Clinton. So you know,
we're here now not to see what happens.

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But you know, do you think
Biden gets re elected? I do,

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yes, I think Biden gets re
elected. And you know, sort

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of weekend at Biden's. He's got
one foot on a banana pel the other

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00:27:23.039 --> 00:27:26.200
foot in the casket. I mean, what am I going to do?

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But I would choose him over Trump
because he's not a threat to the institutions

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of the democracy, not a threat
to the rule of law, and we

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all benefit from the predictability of our
legal system, and we benefit from the

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fact that nobody at the top has
that much power. When Trump says he

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00:27:45.000 --> 00:27:48.039
wants to seize power, be a
dictator and this sort of stuff, let's

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00:27:48.079 --> 00:27:53.960
take him seriously. We don't need
people like that in our government. Now,

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00:27:53.960 --> 00:27:59.720
Anthony Trump, did, we talked
about it earlier, make some statements

352
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about CBDCs. I might get your
thoughts in general, because there seems to

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be a growing need for this in
the United States, or a stable coin

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version, maybe that's more decentralized,
because other countries are building their CBDCs,

355
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and if we want to maintain the
US as dollar as a world reserve currency,

356
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we may need to have this.
What are your thoughts on that?

357
00:28:18.160 --> 00:28:26.400
Well, you see, I actually
think that you can have a stable coin

358
00:28:27.599 --> 00:28:34.680
doesn't come with all the bells and
whistles of privacy invasion, and why not

359
00:28:34.839 --> 00:28:38.880
just go with the stable coin.
Moreover, Jeremy A Layer just put out

360
00:28:38.880 --> 00:28:44.960
a white paper describing the benefits of
having a stable coin versus a central bank

361
00:28:45.039 --> 00:28:48.240
digital currency. It's less threatening to
the world to have a stable coin,

362
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and in some ways it may maintain
or improve the dollar supremacy. So you

363
00:28:55.359 --> 00:28:59.559
know, I'm not buying that we
need to have a central bank digital currency.

364
00:29:00.400 --> 00:29:03.119
By the way, we'll survive if
we get one, but I don't

365
00:29:03.160 --> 00:29:07.160
think we will get one. There's
still like libertarian elements in the country.

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And I can just tell you that
they were talking about dollarization over the blockchain

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in twenty seventeen when I was in
the White House. Now grant that I

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00:29:18.000 --> 00:29:22.839
was only there for a short period
of time, but the Fed in July

369
00:29:22.920 --> 00:29:26.960
of twenty seventeen produced the white paper
talking about putting the dollar up on the

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00:29:26.960 --> 00:29:32.839
blockchain. Nothing happened. It's seven
years later, so we'll see. But

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I think the first move is going
to probably be to use jeremilair at Circle

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00:29:37.160 --> 00:29:41.319
and the USDC. Yeah, and
that makes sense because it's on different blockchains.

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Is interoperability, Like you said,
it's more decentralized. Less you know,

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people will have less concern and could
be interoperable with those governments. True,

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00:29:52.160 --> 00:29:56.039
in some ways that would be less
threatening those governments. Finally, question,

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00:29:56.119 --> 00:30:00.160
here you have jerymail Air and Circle, they have USDC, you have

377
00:30:00.279 --> 00:30:04.640
Tether in the open market, a
globally the largest stable coin, and you

378
00:30:04.680 --> 00:30:08.920
have companies here in the United States
are launching stable coins like PayPal. What

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00:30:08.960 --> 00:30:11.519
do you think happens? It seems
like a lot of stable coins they're gonna

380
00:30:11.519 --> 00:30:15.279
be popping up here and there.
I know regulations are needed, but what

381
00:30:15.319 --> 00:30:18.240
do you think about that? Yeah, I mean, if they're regulated and

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00:30:18.319 --> 00:30:22.799
there's reserves behind them, just like
we have a lot of banks, I

383
00:30:22.799 --> 00:30:25.519
don't see how we wouldn't end up
with a lot of stable coins. Now,

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00:30:26.039 --> 00:30:30.880
having said that, will these stable
coins make themselves interoperable with each other?

385
00:30:32.440 --> 00:30:36.039
And I'm hoping that's the case.
I'm hoping that we get legislation that

386
00:30:36.160 --> 00:30:38.880
creates that type of clarity. So
if you have a stable coin back to

387
00:30:40.039 --> 00:30:44.480
US dollar or an algoran and you
need to flip it into an ethereum based

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00:30:44.599 --> 00:30:48.039
stable coin, I hope we were
able to make that happen for people without

389
00:30:48.079 --> 00:30:51.680
a lot of costs or a lot
of fanfare. So you know, I

390
00:30:51.720 --> 00:30:55.480
think it happens, and I think
the future is bright. And if you're

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00:30:55.519 --> 00:31:00.400
at four percent adoption or four and
a half percent adoption right now, Tony,

392
00:31:00.000 --> 00:31:04.839
imagine what the world looks like at
nine percent of adoption. Exciting times,

393
00:31:06.480 --> 00:31:07.680
Anthony, thank you for joining me. Good to be here, man.

394
00:31:07.720 --> 00:31:11.519
I like your rig, I like
your backup back there. Thanks man,

395
00:31:11.559 --> 00:31:14.759
I've been adding to it all right. Good luck, take care of

396
00:31:14.799 --> 00:31:15.480
Anthony. What