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TRANSCRIPT:

Paul Cappelli, Galaxy Digital:

Bitcoin has grown from sub a penny to being this asset that's today worth about $8,500. It has been certainly an up and down road. It is a volatile asset. Its nascent, but I think what you would want to talk to your clients about is the fact that this was the best performing asset of the last 10 years. It is volatile, it is new. It's certainly not for everyone. What you would want to do is, you know, obviously, size it appropriately and I think you would want to start with either a Bitcoin or start with a product, right? At Galaxy, we believe in giving investors options into investing in products that would suit them, and what return profile they would want to receive. What I would also say to anyone that is pitching this asset classes is lean on people in the space, right, there are a lot of people in the space that are heavily involved. They've dealt with investors before they they've come from traditional asset classes. They know what matters, they understand the importance of custody, they understand the importance of being able to disseminate information from what's real and what's fake. They understand what you need on your end from due diligence perspective and, and things of that nature. So I think what you would want to do is really just have a very candid conversation with an investor that would this would make sense for.