What do we need to see in the short term to keep vindicating an 84,000 level for Bitcoin? One thing is just watching the flows because they have been dramatic, and you have seen stunning flows not just into Bitcoin but almost every stock related to Bitcoin as well. If you think about it, over a seven-day period, you have Coinbase up almost 75% in a seven-day time frame, and you have MicroStrategy up more now today than it was the day that the Trump victory was announced. So, that's just how much you're seeing the excitement around these stocks. And what's interesting to Caroline is you haven't even seen some critical moves by the Trump admin, the future Trump administration, rather. For example, who would be the SEC chair? What tone would they take when it comes to crypto? Will that make Bitcoin go higher from here? We're looking at Solana Dogecoin as well over one week, and you're seeing the gains across the crypto atmosphere.

Just stunning. This is an industry that put $100 million into backing its preferred candidates, and in President-elect Trump, they got their preferred candidate. And you're so right about what happens next. The market thinks that Bitcoin keeps going, right? It thinks Bitcoin goes to 100,000 USD per token. It does. Well, let me give you one man's example for what we heard this morning. We talked to a modified CEO, Frank Speiser. He gave us essentially a target of about $100,000 for the end of the year and 150 into next year towards the end of next year. So, a significant move higher. But the $100,000 time frame he gave us was also what he had given us before. So, the additional upside remains a question, at least what it looks like for the next year or so, to the point that you're been making. Flows have driven the story here. But what about fundamentals? And is there anything here that you just

Take the beginning of the year, for example, when you saw the new Bitcoin ETFs approved by the SEC. You saw a huge run-up into that moment, but a leveling off for a long time. And you and I have sat here talking about it. One question I have is the assets outside of Bitcoin, the places where the SEC had cracked down on different forms of tokens that are traded on exchanges. Do you see more of a flow into that, and does that take away from Bitcoin at all? Something to keep an eye on as the story goes on?

Bitcoin's Big Moves

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