Transcript
Introduction
Matt
All right, Eric. We're back, baby. We're back. This is actually the 1-year anniversary of our first quarterly update, and a lot has changed over the course of the year. But first quarter 2023, I was actually -- did a little wiper wash of my eyes when I saw the numbers. Bitcoin was up 68% in the first quarter, and Ethereum was up 50%. Not too bad relative to a stock market that was up 7.5%.
It feels quieter in my neck of the woods, again, from the cheap seats, a bit of an outsider, a tourist in the crypto space. But how does it feel to you? Just general environment, it's hard to separate the crypto market from the broader market. But just general sentiment check coming out of the first quarter 2023, how does it feel?
Eric
I think it feels some sense of relief for people. I think there's a bit of a sense of pride or astonishment. Definitely a rallying around people that feel like they're in it for certain reasons. We've talked in the past about tribalism, why do people get into crypto in the first place and what do they feel the needs are. So I think anytime there's a shock to a system, it's going to feel different. In the fourth quarter, if you go back and listen to it, it just feels like stuff's blowing up everywhere for the analogy of just like what's going to happen tomorrow.