1 00:00:05,640 --> 00:00:08,360 Speaker 1: Welcome to the Fearing Greed business Interview. I'm Sean Aylmer. 2 00:00:08,480 --> 00:00:12,200 Speaker 1: Financial markets are in a state of flux as uncertainty 3 00:00:12,200 --> 00:00:16,200 Speaker 1: over US tariffs and a trade war continues, and cryptocurrency 4 00:00:16,280 --> 00:00:20,160 Speaker 1: is certainly not immune. Bitcoin hit three week lows on Monday, 5 00:00:20,200 --> 00:00:23,880 Speaker 1: while the second largest digital asset, Ethereum, fell a whopping 6 00:00:24,000 --> 00:00:27,160 Speaker 1: twenty six percent at one point. Then they bounced since 7 00:00:27,240 --> 00:00:30,480 Speaker 1: Donald Trump delayed the imposition of tariff's on Canada and Mexico. 8 00:00:31,000 --> 00:00:33,560 Speaker 1: So where to now for crypto? Remember this is general 9 00:00:33,560 --> 00:00:36,360 Speaker 1: information only and you should seek professional advice before making 10 00:00:36,400 --> 00:00:41,839 Speaker 1: investment decisions. Caroline Bowler is the CEO of BTC Markets. Caroline, 11 00:00:41,880 --> 00:00:42,920 Speaker 1: welcome back to Fear and Greed. 12 00:00:43,360 --> 00:00:44,479 Speaker 2: Thanks so much for having me. 13 00:00:45,080 --> 00:00:48,879 Speaker 1: How do you think about cryptos in the current environment. 14 00:00:50,200 --> 00:00:56,080 Speaker 2: Oh gosh, that's a big question. One thing to preface it. 15 00:00:56,880 --> 00:01:01,080 Speaker 2: Trump is a fan of crypto and the people that 16 00:01:01,120 --> 00:01:04,759 Speaker 2: he has placed around him, his army of advisors, are 17 00:01:04,800 --> 00:01:08,399 Speaker 2: also pro crypto, and they were pro crypto before they 18 00:01:08,440 --> 00:01:12,319 Speaker 2: came into the Trump world, the Trump ecosystem. So and 19 00:01:12,360 --> 00:01:15,000 Speaker 2: they're public about it. We know that they hold in 20 00:01:15,000 --> 00:01:16,800 Speaker 2: the millions, some are saying, and they're even going to 21 00:01:16,840 --> 00:01:19,160 Speaker 2: go to the billions of dollars. And I'm not just 22 00:01:19,240 --> 00:01:23,080 Speaker 2: talking about Musk here. I'm talking about Howard Lutnick, for example, 23 00:01:23,200 --> 00:01:25,400 Speaker 2: who is coming into the Commerce Secretary for and he 24 00:01:25,480 --> 00:01:28,600 Speaker 2: is the founder of counter Fitzgerald, the trading for, well 25 00:01:28,640 --> 00:01:33,319 Speaker 2: known crypto holder, very public about it. We know that 26 00:01:34,240 --> 00:01:36,080 Speaker 2: they're bringing you know, they promised to bring in and 27 00:01:36,120 --> 00:01:37,760 Speaker 2: they've certainly been playing with a lot of crypto in 28 00:01:37,760 --> 00:01:41,200 Speaker 2: the building to their inauguration. We know that they're bringing 29 00:01:41,319 --> 00:01:43,880 Speaker 2: in digital assets and crypto as part of that, as 30 00:01:43,920 --> 00:01:47,240 Speaker 2: part of their wider economic policies. So I think it's 31 00:01:47,280 --> 00:01:50,720 Speaker 2: fair to say that this is a topic that is gone, 32 00:01:50,880 --> 00:01:54,320 Speaker 2: that has gone mainstream. We're seeing the tip over, we're 33 00:01:54,320 --> 00:01:56,800 Speaker 2: certainly seeing that as we go into twenty twenty five. 34 00:01:57,800 --> 00:02:01,720 Speaker 2: But what we're also seeing is degree of vulnerability within 35 00:02:01,760 --> 00:02:06,720 Speaker 2: crypto to the whims on vagaries of Donald Trump. And 36 00:02:06,800 --> 00:02:08,960 Speaker 2: certainly that's what we've seen in the first couple of 37 00:02:08,960 --> 00:02:11,359 Speaker 2: months of this year. I was just talking to a 38 00:02:11,440 --> 00:02:13,840 Speaker 2: colleague before he came on about the last time we 39 00:02:13,880 --> 00:02:16,040 Speaker 2: saw a dump in the price of bitcoin, in particular 40 00:02:16,080 --> 00:02:18,600 Speaker 2: early this year in January, and that was to do 41 00:02:18,800 --> 00:02:21,720 Speaker 2: with the issuance of the Trump crypto coins, both for 42 00:02:21,840 --> 00:02:24,280 Speaker 2: Donald and for Millennia, where it's such a lot of 43 00:02:24,280 --> 00:02:26,040 Speaker 2: the liquidity out of the water crypto market. And we 44 00:02:26,080 --> 00:02:28,120 Speaker 2: saw the Bitcoin price drop, and in the last twenty 45 00:02:28,120 --> 00:02:30,360 Speaker 2: four hours, as you've said, we've seen bitcoin prize strop 46 00:02:30,400 --> 00:02:34,680 Speaker 2: we've seen the water crypto ecosystem drop. Accordingly, again based 47 00:02:34,720 --> 00:02:38,760 Speaker 2: on Trump's whipsaw back and forth in his policies and 48 00:02:38,760 --> 00:02:40,959 Speaker 2: what it is he's looking to do. So I think 49 00:02:41,000 --> 00:02:44,640 Speaker 2: that while it's a strength, it's also a vulnerability for cryptocurrency, 50 00:02:45,120 --> 00:02:48,040 Speaker 2: certainly in this initial period of time. I think too 51 00:02:48,160 --> 00:02:50,680 Speaker 2: though that like once all of this starts to become 52 00:02:50,720 --> 00:02:53,320 Speaker 2: more embedded in terms of the royal of crypto and 53 00:02:53,360 --> 00:02:56,000 Speaker 2: digital assets bostically the United States and the rest of 54 00:02:56,000 --> 00:02:58,679 Speaker 2: the world, I think we can expect to see a 55 00:02:58,760 --> 00:03:01,360 Speaker 2: little bit more stability come through in certainly in the 56 00:03:01,360 --> 00:03:03,480 Speaker 2: price movements. 57 00:03:02,919 --> 00:03:06,000 Speaker 1: It's the reason that there's how many movements on the 58 00:03:06,040 --> 00:03:08,799 Speaker 1: back of the tariffs. Is it a risk on risk 59 00:03:08,919 --> 00:03:12,520 Speaker 1: off play, so cryptoized as seen as riskier assets, and 60 00:03:12,720 --> 00:03:15,639 Speaker 1: when people are uncertain about tariff's and what that means, 61 00:03:15,760 --> 00:03:17,720 Speaker 1: very good of growth. As a result, people tend to 62 00:03:17,760 --> 00:03:20,080 Speaker 1: go towards the safer assets gold, gum and bonds, that 63 00:03:20,120 --> 00:03:20,720 Speaker 1: type of stuff. 64 00:03:21,280 --> 00:03:23,400 Speaker 2: Yeah, I certainly think that that's I mean, that's a 65 00:03:23,400 --> 00:03:26,920 Speaker 2: fair assessment generally for the markets. They as they move, 66 00:03:27,400 --> 00:03:29,640 Speaker 2: and as I say, there is that connection to Donald 67 00:03:29,639 --> 00:03:31,919 Speaker 2: Trump's kind of whims and vagues it has been moving 68 00:03:31,960 --> 00:03:34,840 Speaker 2: the market of late. But I also think too that 69 00:03:35,400 --> 00:03:39,160 Speaker 2: certainly we've seen, you know, the narrative of what moves 70 00:03:39,160 --> 00:03:41,800 Speaker 2: the price in crypto shift in recent years, and it's 71 00:03:41,800 --> 00:03:45,280 Speaker 2: certainly become more exposed to the wider macro environment that 72 00:03:45,320 --> 00:03:48,800 Speaker 2: it's operating. And I'm talking here probably about the top 73 00:03:49,000 --> 00:03:52,200 Speaker 2: five to ten currencies within the crypto ecosystem, and then 74 00:03:52,240 --> 00:03:54,160 Speaker 2: there are impact that they have on the rest of 75 00:03:54,200 --> 00:03:57,760 Speaker 2: the wider list of crypto that's available. So you know, 76 00:03:57,800 --> 00:04:00,480 Speaker 2: they're certainly more exposed to the macro economy and what 77 00:04:00,520 --> 00:04:02,120 Speaker 2: we see there then as I say, it kind of 78 00:04:02,240 --> 00:04:05,000 Speaker 2: gets echoed and rippled to the rest of the markets. 79 00:04:05,520 --> 00:04:08,320 Speaker 1: Okay, I mean I want to go on to ethereum 80 00:04:08,360 --> 00:04:10,760 Speaker 1: in a moment. Before we get there, I'm just interested 81 00:04:10,800 --> 00:04:13,800 Speaker 1: in the sorts of volumes you're seeing being traded at 82 00:04:13,840 --> 00:04:16,679 Speaker 1: BETAC markets, not just in the last forty eight hours, 83 00:04:16,760 --> 00:04:20,080 Speaker 1: but really since Donald Trump's selection and then particularly in 84 00:04:20,120 --> 00:04:23,080 Speaker 1: the since every the last month since his inauguration. 85 00:04:23,560 --> 00:04:27,080 Speaker 2: Yes, certainly, I think were describe it as brisk. I 86 00:04:27,080 --> 00:04:30,080 Speaker 2: don't think we'll quite yet in the in the full 87 00:04:30,160 --> 00:04:33,160 Speaker 2: on bear market territory. I don't think we're quite Sorry, 88 00:04:33,200 --> 00:04:36,520 Speaker 2: bull market Charity got a bit of bear. I don't 89 00:04:36,520 --> 00:04:39,359 Speaker 2: think we're quite at that point yet, and it doesn't 90 00:04:39,400 --> 00:04:41,560 Speaker 2: feel so from what we're seeing in the data sets 91 00:04:41,600 --> 00:04:43,800 Speaker 2: are sitting behind. We can see that there's a lot 92 00:04:43,839 --> 00:04:47,039 Speaker 2: of capital waiting to be deployed into these markets. So 93 00:04:47,040 --> 00:04:48,880 Speaker 2: we're seeing money that's not yet view and it's not 94 00:04:48,960 --> 00:04:51,680 Speaker 2: yet trading, so people are waiting. And certainly if you 95 00:04:51,720 --> 00:04:54,080 Speaker 2: look at the Fear and Greed Index, which is like 96 00:04:54,080 --> 00:04:56,920 Speaker 2: a sentiment indicator. Ocously I think it's beautifully named Fear 97 00:04:56,920 --> 00:05:00,320 Speaker 2: and Greed Index on the CMC, and we and see 98 00:05:00,320 --> 00:05:02,520 Speaker 2: there that we're now in a market of fear, meaning 99 00:05:02,520 --> 00:05:05,039 Speaker 2: that people aren't necessarily feeling comflee to come out and 100 00:05:05,080 --> 00:05:08,960 Speaker 2: start to deploy. So are we seeing robusts? Are we're 101 00:05:08,960 --> 00:05:12,000 Speaker 2: seeing brisk trading? Yes? Absolutely, in particular looking at the 102 00:05:12,160 --> 00:05:15,440 Speaker 2: XRP trading pair, which is we're probably the biggest market 103 00:05:15,440 --> 00:05:19,160 Speaker 2: in Australia for that particular XRPAD trading pair, and that 104 00:05:19,240 --> 00:05:22,599 Speaker 2: has been doing very well in terms of volume since 105 00:05:22,920 --> 00:05:27,880 Speaker 2: the Donald Trump election result because he's seen, as we've said, 106 00:05:27,880 --> 00:05:32,560 Speaker 2: about being pro crypto or certainly you know, anti overreach 107 00:05:32,600 --> 00:05:35,960 Speaker 2: of regulators. And I think XRPN the Ripple Project have 108 00:05:36,040 --> 00:05:37,919 Speaker 2: been part of, you know, a fout the impact of that. 109 00:05:38,520 --> 00:05:41,599 Speaker 2: But now now it's going gangbusters, as they say. 110 00:05:42,240 --> 00:05:44,760 Speaker 1: I want to talk about some of these specific cryptois 111 00:05:44,760 --> 00:05:46,400 Speaker 1: in a moment. We'll take a quick break and be 112 00:05:46,480 --> 00:05:56,279 Speaker 1: back in a minute. My guest today is Caroline Bowler, 113 00:05:56,440 --> 00:06:01,280 Speaker 1: CEO of BTC Markets. Ethereum to fall. It's the second 114 00:06:01,360 --> 00:06:05,960 Speaker 1: largest scriptore currency to fall twenty six percent in one session. Sure, 115 00:06:06,000 --> 00:06:09,160 Speaker 1: it's bounced since then. Why was that one hit so hard? 116 00:06:09,200 --> 00:06:12,360 Speaker 1: Because the ethereum is different to Bitcoin. 117 00:06:12,480 --> 00:06:15,839 Speaker 2: Yes, absolutely, and it's number two for the market cap 118 00:06:16,320 --> 00:06:18,200 Speaker 2: it for crypto, and I think that's probably why we're 119 00:06:18,240 --> 00:06:21,880 Speaker 2: seeing the attractions bitcoin itself, because it's got such large 120 00:06:21,960 --> 00:06:24,400 Speaker 2: volume and Souchi equality. We don't tend to see at 121 00:06:24,400 --> 00:06:27,960 Speaker 2: this stage now such large swings. We'll see generally swings 122 00:06:28,080 --> 00:06:31,160 Speaker 2: maybe topping out about a ten percent swing the rest 123 00:06:31,200 --> 00:06:33,880 Speaker 2: of the crypto universe, though, has been more vulnerable to 124 00:06:33,920 --> 00:06:37,600 Speaker 2: those larger those larger movements, and Ethereum yet still doesn't 125 00:06:37,640 --> 00:06:40,400 Speaker 2: have that same weight, that same gravitas, and it's still 126 00:06:40,440 --> 00:06:43,120 Speaker 2: more prone to those to those vagaries. And I would 127 00:06:43,120 --> 00:06:45,480 Speaker 2: also say too that, like you know this, because there 128 00:06:45,520 --> 00:06:50,280 Speaker 2: is so much concentration in bitcoin, it's also probably immune 129 00:06:50,480 --> 00:06:54,239 Speaker 2: in some respects to some of these these market movements. 130 00:06:54,279 --> 00:06:55,880 Speaker 2: I think that's just considered that it's just going to 131 00:06:55,880 --> 00:06:58,880 Speaker 2: be around for long, or there's more sensus stability ethereum. 132 00:06:58,960 --> 00:07:01,039 Speaker 2: Although you know, a say it's number two in the 133 00:07:01,040 --> 00:07:03,440 Speaker 2: market cup and has been for a long time, it's 134 00:07:03,440 --> 00:07:06,479 Speaker 2: still I don't think it's widely known amongst This was 135 00:07:06,480 --> 00:07:09,520 Speaker 2: the non crypto native trader who's coming in, So I 136 00:07:09,520 --> 00:07:11,600 Speaker 2: think that they're still trying to figure out what that's about. 137 00:07:11,880 --> 00:07:15,200 Speaker 2: And my own personal view on the theorem is certainly bullish. 138 00:07:15,240 --> 00:07:18,120 Speaker 2: My own personal view is that I can see its 139 00:07:18,160 --> 00:07:22,680 Speaker 2: play within the wider blockchain ecosystem. You know, I'm a 140 00:07:22,720 --> 00:07:24,280 Speaker 2: fan of a theorem. I think one of the records 141 00:07:24,280 --> 00:07:26,400 Speaker 2: are saying that not flann shald advice, of course, but 142 00:07:26,440 --> 00:07:28,840 Speaker 2: I think there's a lot that's very interesting and still 143 00:07:28,880 --> 00:07:31,320 Speaker 2: to come within that ecosystem. I think we're only just 144 00:07:31,360 --> 00:07:32,200 Speaker 2: touching the surface. 145 00:07:32,720 --> 00:07:34,080 Speaker 1: Where do we go? So at the moment there's a 146 00:07:34,120 --> 00:07:36,520 Speaker 1: lot of noise about the place. But fundamentally, what you 147 00:07:36,560 --> 00:07:38,640 Speaker 1: said at the beginning of the show is that the 148 00:07:38,720 --> 00:07:42,840 Speaker 1: regulatory environment in the US is positive in the Trump administration. 149 00:07:43,200 --> 00:07:45,680 Speaker 1: So once we get through the noise, where do we 150 00:07:45,720 --> 00:07:47,840 Speaker 1: go for the rest of the year, do you think? 151 00:07:48,320 --> 00:07:51,080 Speaker 1: And then the second part of that question is ultimately 152 00:07:51,840 --> 00:07:54,480 Speaker 1: do cryptocurrencies do we end up with the ten big 153 00:07:54,520 --> 00:07:57,200 Speaker 1: ones or do we end up with five hundred of them? 154 00:07:57,320 --> 00:07:59,920 Speaker 1: So firstly, this year, where we're going, So for this. 155 00:08:00,120 --> 00:08:02,400 Speaker 2: In particular, I think we're going to see we can 156 00:08:02,400 --> 00:08:05,840 Speaker 2: already see that Trump is very closely aligned with the 157 00:08:05,960 --> 00:08:08,960 Speaker 2: technology companies in the United States, and he's very clear 158 00:08:08,960 --> 00:08:10,840 Speaker 2: on that technology message. And I think that is a 159 00:08:10,920 --> 00:08:12,960 Speaker 2: drum that's going to be beaten for the remainder of 160 00:08:13,320 --> 00:08:16,280 Speaker 2: twenty twenty five and into twenty six. If anything, he's 161 00:08:16,320 --> 00:08:18,680 Speaker 2: trying to make that a real lynchpin of his presidency. 162 00:08:18,960 --> 00:08:20,720 Speaker 2: And you know, we all know is only a limited 163 00:08:20,760 --> 00:08:23,040 Speaker 2: time where he can actually be effective, So he's really 164 00:08:23,040 --> 00:08:25,080 Speaker 2: pushing over the next couple of years. So I think, 165 00:08:25,320 --> 00:08:26,960 Speaker 2: as I said, it's drum that's going to be beaten. 166 00:08:27,120 --> 00:08:28,960 Speaker 2: We know as well with that sovereign fund that he's 167 00:08:29,000 --> 00:08:31,960 Speaker 2: now bringing in, that that's going to undoubtedly be invested 168 00:08:32,000 --> 00:08:34,880 Speaker 2: heavily within technology and all of that has a play 169 00:08:35,000 --> 00:08:39,240 Speaker 2: within digital assets and within cryptocurrency, and just you know, 170 00:08:39,240 --> 00:08:42,600 Speaker 2: there's a distinction between a digital asset. A cryptocurrency is 171 00:08:42,600 --> 00:08:45,680 Speaker 2: a digital asset, not the other way around. And I 172 00:08:45,720 --> 00:08:48,720 Speaker 2: think what they have said and certain we're expecting an 173 00:08:48,720 --> 00:08:51,959 Speaker 2: announcement to come out around what the United States is 174 00:08:52,000 --> 00:08:54,400 Speaker 2: going to do to position itself as a leader within 175 00:08:54,520 --> 00:08:57,120 Speaker 2: digital assets, and we know that's coming from both the 176 00:08:57,200 --> 00:08:59,920 Speaker 2: House and the Senate are all involved in this along 177 00:09:00,040 --> 00:09:02,920 Speaker 2: side the President, to try and push forward the US's 178 00:09:03,000 --> 00:09:05,840 Speaker 2: role within digital assets. The reason why that's important is 179 00:09:05,840 --> 00:09:08,360 Speaker 2: because that tells us, then, Okay, this is now going 180 00:09:08,400 --> 00:09:11,280 Speaker 2: to be the narrative for financial services for the next 181 00:09:11,320 --> 00:09:13,440 Speaker 2: couple of years. At the very very least, it certainly 182 00:09:13,559 --> 00:09:16,720 Speaker 2: going to accelerate and push forward what was already happening. 183 00:09:16,760 --> 00:09:19,200 Speaker 2: I mean, the financial services industry itself was already moving 184 00:09:19,240 --> 00:09:22,600 Speaker 2: towards that digital asset ecosystem. But this is absolutely going 185 00:09:22,640 --> 00:09:25,760 Speaker 2: to be a punch forward for that conversation, not just 186 00:09:25,760 --> 00:09:27,719 Speaker 2: in the United States, and because obviously the rest of 187 00:09:27,760 --> 00:09:29,760 Speaker 2: the world will have to catch up or try and 188 00:09:29,840 --> 00:09:32,680 Speaker 2: keep up with whatever direction they take. 189 00:09:33,679 --> 00:09:35,760 Speaker 1: Okay, so I mean in a sense the outlook is 190 00:09:35,800 --> 00:09:38,960 Speaker 1: good next year or two because of the regulatory environment. 191 00:09:39,240 --> 00:09:43,439 Speaker 1: Where do we end up with digital assets? 192 00:09:44,320 --> 00:09:46,600 Speaker 2: I can tell you now, and I'm not sure it's 193 00:09:46,760 --> 00:09:49,760 Speaker 2: strictly what timeframe we're going to see this on, but 194 00:09:49,800 --> 00:09:53,280 Speaker 2: I can one hundred percent guarantee that everywhere in the 195 00:09:53,320 --> 00:09:58,840 Speaker 2: world digital assets will be the new financial services system one, 196 00:09:58,880 --> 00:10:01,200 Speaker 2: and I think we'll see that potentially what we'll see 197 00:10:01,440 --> 00:10:03,560 Speaker 2: the roots of that start to come through now. I 198 00:10:03,559 --> 00:10:05,440 Speaker 2: think when we look back on where we were, it's 199 00:10:05,440 --> 00:10:07,520 Speaker 2: saying seven years from now, we look back at where 200 00:10:07,520 --> 00:10:09,880 Speaker 2: we are now, we will point to twenty twenty five 201 00:10:10,160 --> 00:10:13,800 Speaker 2: as being that pivotal breakthrough. You the ease of use 202 00:10:13,920 --> 00:10:18,480 Speaker 2: of digital assets within financial services, the low cost, the 203 00:10:18,520 --> 00:10:23,720 Speaker 2: efficiency gains, the variety, the accessibility will just make this 204 00:10:24,360 --> 00:10:26,520 Speaker 2: such an inevitability for us all in the same way 205 00:10:26,559 --> 00:10:29,280 Speaker 2: that you know, your mobile phone and social media, you know, 206 00:10:29,520 --> 00:10:31,959 Speaker 2: have become all encompassing within so many of our lives. 207 00:10:32,480 --> 00:10:35,160 Speaker 2: I suspect and would be confident to say that financial 208 00:10:35,200 --> 00:10:37,720 Speaker 2: services will go in the same way. That's, as I say, 209 00:10:37,720 --> 00:10:41,160 Speaker 2: distinct from cryptocurrency, but part of cryptocurrency is part of 210 00:10:41,240 --> 00:10:43,760 Speaker 2: that wider shift. So it's great. I mean, particularly in 211 00:10:43,760 --> 00:10:46,600 Speaker 2: the country like Australia where people are financially is true, 212 00:10:46,679 --> 00:10:50,120 Speaker 2: and where people are excited about taking ownership and having 213 00:10:50,160 --> 00:10:52,880 Speaker 2: more a greater sense of control around their financial destiny. 214 00:10:53,120 --> 00:10:56,440 Speaker 2: Things like digital assets will be you know, a balm 215 00:10:56,559 --> 00:10:58,440 Speaker 2: to that they're going to I think, really enjoy and 216 00:10:58,520 --> 00:10:59,840 Speaker 2: appreciate what it's going to give them. 217 00:11:00,320 --> 00:11:01,839 Speaker 1: Yeah, I mean we're out of time, but I just 218 00:11:01,920 --> 00:11:04,280 Speaker 1: want to dig down a little bit deeper. So within 219 00:11:04,640 --> 00:11:08,360 Speaker 1: digital assets are cryptocurrencies as a subset of digital assets. 220 00:11:08,559 --> 00:11:13,040 Speaker 1: Within cryptocurrencies, we have all sorts of bitcoin, ethereum, et cetera. 221 00:11:13,920 --> 00:11:17,439 Speaker 1: Where do you think those ones will play in the 222 00:11:17,480 --> 00:11:21,280 Speaker 1: financial ecosphere in the future. Is it mostly the big 223 00:11:21,320 --> 00:11:22,840 Speaker 1: ones that make it and the others don't? 224 00:11:23,800 --> 00:11:28,080 Speaker 2: Well? I remember the dot com boom without aging myself 225 00:11:28,120 --> 00:11:30,000 Speaker 2: too much and who could have particularly back to your 226 00:11:30,000 --> 00:11:32,240 Speaker 2: winner at that point in time. But we're at that 227 00:11:32,320 --> 00:11:35,800 Speaker 2: kind of stage. What is interesting and I think you 228 00:11:35,840 --> 00:11:38,920 Speaker 2: certainly if people are looking to explore more of the 229 00:11:38,960 --> 00:11:42,280 Speaker 2: assets outside of just bitcoin, having a look at platforms 230 00:11:42,320 --> 00:11:46,480 Speaker 2: like Etherea or bitcoin blockchains like Ethereum and Solana. For example, 231 00:11:46,520 --> 00:11:49,040 Speaker 2: Solana is kind of cashing up to Ethereum in terms 232 00:11:49,080 --> 00:11:51,840 Speaker 2: of its use case, and you will get to understand 233 00:11:51,840 --> 00:11:54,600 Speaker 2: a little bit about the technology that these digital assets 234 00:11:54,600 --> 00:11:57,160 Speaker 2: are being built upon. And I think that's the difference. 235 00:11:57,160 --> 00:11:59,000 Speaker 2: If you look at so bitcoin is a supposed to 236 00:11:59,000 --> 00:12:02,240 Speaker 2: Ethereum and Solana, those guys are at the utility place. 237 00:12:02,679 --> 00:12:05,160 Speaker 2: Those are the tech platforms that we're going to build 238 00:12:05,160 --> 00:12:06,280 Speaker 2: out the rest of the economy on. 239 00:12:06,760 --> 00:12:08,480 Speaker 1: Caroline, thank you for talking to Fear and Greed. 240 00:12:08,800 --> 00:12:09,480 Speaker 2: Thanks so much. 241 00:12:10,160 --> 00:12:14,120 Speaker 1: As Caroline Bowler, chief executive of BTC Markets, This is 242 00:12:14,160 --> 00:12:16,880 Speaker 1: the Fear and Greed Business Interview. Remember this is general 243 00:12:16,880 --> 00:12:19,559 Speaker 1: information only, and you should always see professional advice before 244 00:12:19,600 --> 00:12:22,480 Speaker 1: making investment decisions. Join us every morning for the full 245 00:12:22,480 --> 00:12:24,960 Speaker 1: episode of Fear and Greed, daily business news to people 246 00:12:25,000 --> 00:12:29,319 Speaker 1: who make their own decisions. I'm Sean Almer. Enjoy your day.