Capital markets, though, are a different game. I’ve often said that the opportunity to monetize Bitcoin-based capital markets is naturally skewed to small to mid-sized economies. Bitfinex Securities is registered and licensed not in New York, London, or even Singapore but in El Salvador and Kazkahstan’s Astana International Financial Center. Two jurisdictions that not only have buy-in from the highest echelons of their respective governments, but maybe even more importantly, are places where financial services account for a very small proportion of GDP. There are fewer moats and less pushback from entrenched players in legacy markets. It’s a good bet. Lots of upside and minimal downside.