Person. Barry

Barry Silbert

Bitcoin-era investor who runs DCG, and since November 2024 has run Yuma, DCG's Bittensor subsidiary, casting Bittensor as the next Bitcoin and himself as back in the game.

PersonFounder and CEO, Digital Currency Group; Founder and CEO, Yuma; Chairman, GrayscaleDigital Currency Group / Yumaactive since 2024@BarrySilbert

It is going to surprise a lot of people and will be obvious in hindsight

19 Sep 2024 · in context

In their words, by era

Every quote is verbatim and dated. The reading above each era is written from the cited quotes only. Numbers link to the quote they cite.

Revolutionlate 2023 to early 2025 · 8 quotes

He surfaces in August 2024 as an investor cheering Grayscale's TAO trust 001, teases that Bittensor will be obvious in hindsight 002, then launches Yuma in November with the founding frame: early Bitcoin for money, Bittensor for the decentralised ownership of intelligence 003, and Bittensor as the World Wide Web of AI 005. The pitch is deliberately de-cryptoed for enterprises 004.

early bitcoin
7 Aug 2024

Excited to see Grayscale introducing Bittensor $TAO to the investing world

X post reacting to Grayscale's announcement of a single-asset Bittensor Trust. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

7 Aug 2024 · @BarrySilbert on Xxsecondhandmanual
Their stake in itWho they addressThe proof they point to
19 Sep 2024

It is going to surprise a lot of people and will be obvious in hindsight

X post on Bittensor as TAO rallied ahead of its smart contract launch, quoted by The Defiant; the post id is 1836818543696031819.

19 Sep 2024 · The Defiantarticlesecondhandlive
How it feelsThe line they repeatHow they soundhindsight
20 Nov 2024

Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we're moving from the digital ownership of assets to the decentralized ownership of intelligence.

Silbert's statement in the DCG press release announcing Yuma, quoted in Fortune's launch story by Jeff John Roberts.

20 Nov 2024 · Fortunearticlesecondhandlive
The world it buildsWhat they call itThe line they repeatearly bitcoin
20 Nov 2024

blockchain scares people away

To Fortune, explaining why Yuma plays down the crypto side of its pitch even though TAO incentives sit at the centre of Bittensor.

20 Nov 2024 · Fortunearticlesecondhandlive
Who they addressTheir words for thingsHow they sound
20 Nov 2024

If you ask five people: 'What is Bittensor?' You will get five different answers. If you remember early bitcoin, some people would say it's money, some people would say it's gold. Some people would say it's this blockchain [...] The way that I look at Bittensor is as the World Wide Web of AI.

Interview with CoinDesk's Ian Allison on the day Yuma launched, asked what Bittensor is.

20 Nov 2024 · CoinDeskarticlesecondhandlive
What they call itThe line they repeatTheir words for thingsworld wide webearly bitcoin
20 Nov 2024

There are two flavors of subnet partnerships. We are doing an accelerator, so if you are a startup or an enterprise who has an idea and wants to explore the world of Bittensor and launch a subnet, we will help you. Then we have a subnet incubator, where we will partner up with somebody to build ... a new subnet.

Same CoinDesk interview, describing what Yuma will do on Bittensor.

20 Nov 2024 · CoinDeskarticlesecondhandlive
Their stake in itWho they addressWhat you get
22 Nov 2024

New to Bittensor $TAO or just curious? Here are some individuals to follow: @const_reborn @shibshib89 @mogmachine @0xcarro @WSquires @macrocrux @Old_Samster @EvanMalanga @RahulKumaran4 @JosephJacks_ @xponentcrisis @0xarrash @angad_ai @TAOTemplar @kenjon

X post two days after the Yuma launch pointing newcomers at Bittensor community accounts. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

22 Nov 2024 · @BarrySilbert on Xxsecondhandmanual
Who they addressHow they soundTheir stake in it
13 Dec 2024

AI Agents + Bittensor $TAO, brought to you by Masa & @YumaGroup

X post promoting a Masa and Yuma agent subnet collaboration. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

13 Dec 2024 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it

Dynamic TAO2025 to mid 2026 · 29 quotes

The framing hardens into 'the next Bitcoin': same whitepaper-to-code origin and token economics 016, the boldest call that it could be a better store of value than Bitcoin 014, and the halving as a Bitcoin-2012 moment 032. The web metaphor is upgraded from 'of AI' to 'of intelligence' 026. With dynamic TAO his subject shifts from the network to subnet tokens as an asset class and market validation [barry-silbert-029, barry-silbert-035], and he starts naming the enemy: closed systems run by tech giants 034, plus Bitcoiners who call TAO a scam 009.

better bitcoin

Shift From explaining what Bittensor is to arguing it is the next Bitcoin and packaging subnet tokens for institutions.

Apr 2025

calling $TAO a scam is such a lazy attack. do better

X reply to Bitcoin author Parker Lewis, who had called Silbert and Raoul Pal affinity scammers for promoting TAO; quoted by CoinDesk on 22 April 2025.

Apr 2025 · CoinDeskarticlesecondhandlive
What it is againstHow they sound
17 Apr 2025

I started looking across the whole decentralized AI space and started digging in on Bittensor. Very quickly, I came to the conclusion that from a theme or era perspective, this is the next big one.

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), asked how he arrived at Bittensor; wording taken from The Currency Analytics' write-up of the episode.

Why nowWhat they call itTheir stake in itera
17 Apr 2025

There are a number of projects that have launched. We've backed a number of them. But the one that over the past year or year and a half that has reached escape velocity is Bittensor.

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), on why Bittensor rather than other decentralised AI projects DCG has backed; wording via The Currency Analytics.

What makes it differentThe proof they point toWhat it is againstescape velocity
17 Apr 2025

We're going to invest in it, we're going to build on it, we're going to help educate, create awareness, create access. We launched a new business in the fall of last year called Yuma. I'm putting my jersey back on. I'm still running DCG, but I'm back in the game.

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), describing Yuma's role and his own return to operating; wording via The Currency Analytics.

Their stake in itHow they soundWho they addressjersey
17 Apr 2025

You had the Bitcoin and the Ethereum and the NFTs, and you had the layer 2s and DeFi. I think this is the next big investment theme for crypto

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), placing decentralised AI in the sequence of crypto investment eras; wording via CoinStats' summary of the episode.

Why nowWhat they call itera
17 Apr 2025

The boldest prediction that I could make for Bittensor is it could be a better version of Bitcoin as a global store of value

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), asked for his boldest call on Bittensor; wording via CoinStats.

The world it buildsWhat they call itWhat you getbetter bitcoin
17 Apr 2025

99.9% of crypto tokens that are out there have no reason to exist and are worthless

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), setting up why TAO clears his bar when most tokens do not; wording via CoinStats.

What it is againstWhy believe themHow they sound
17 Apr 2025

It's just like bitcoin, there was a white paper that turned into code then launched and it has the same token economics

On Raoul Pal's Journey Man podcast (recorded 9 April 2025, published 17 April), comparing TAO's origin and 21 million supply with Bitcoin; wording via CoinDesk's report on the Bitcoiner backlash.

Why believe themWhat they call itThe proof they point toearly bitcoin
17 Apr 2025

Bittensor is a decentralized intelligence network, with the core idea of creating a global permissionless platform incentivizing global intelligence to solve any problem or challenge.

Same Journey Man episode, as rendered in a Bitget News transcript that appears to be translated back from Chinese, so the English is not his exact wording; his definition of Bittensor.

What it is forWhat they call it
17 Apr 2025

Bittensor eliminates single points of failure, such as OpenAI or Meta API restrictions, while providing redundancy and scalability.

Same Journey Man episode, as rendered in a Bitget News transcript that appears to be translated back from Chinese, so the English is not his exact wording; on what Bittensor offers relative to closed AI providers.

What it is againstWhat is missingWhat you get
17 Apr 2025

Each subnet has its own token...each subnet token is transacted in TAO. TAO, acting as a utility currency, serves as the pricing base for all subnet tokens.

Same Journey Man episode, as rendered in a Bitget News transcript that appears to be translated back from Chinese, so the English is not his exact wording; explaining dynamic TAO and subnet tokens.

What you getTheir words for thingsutility currency
30 Apr 2025

Enjoyed the opportunity to go macro with @fintechfrank at @TheBlock__ We went all the way back to the early days of Bitcoin and the evolution of digital assets, to deAI & Bittensor $TAO, and what we're building today at @YumaGroup A lot to cover, and a lot more to come...

X post promoting his appearance on The Block's podcast The Scoop. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

30 Apr 2025 · @BarrySilbert on Xxsecondhandmanual
Their words for thingsTheir stake in itHow they sound
5 Jun 2025

A new chapter for Bittensor $TAO: BitGo has partnered with Yuma to bring TAO staking to institutions

X post announcing BitGo institutional TAO staking with Yuma. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

5 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they addressWhat you getchapter
28 Jun 2025

Went down the Bittensor $TAO rabbit hole with @fundstrat. Fun conversation with Tom, the first Wall Street bitcoin OG

X post after a Fundstrat crypto and AI outlook session with Tom Lee. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

28 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressrabbit hole
11 Sep 2025

I believe that the next big wave in crypto is going to be the convergence of AI and crypto

On stage at Fortune's Brainstorm Tech in Park City, Utah, reported by Ben Weiss; asked what comes next for crypto.

11 Sep 2025 · Fortunetalksecondhandlive
Why nowThe line they repeatwave
11 Sep 2025

I want to open up the development and the access to AI and Bitensor is enabling that

On stage at Fortune's Brainstorm Tech in Park City, Utah, reported by Ben Weiss; on why he backs Bittensor; Fortune's text spells the network 'Bitensor' and is kept as printed.

11 Sep 2025 · Fortunetalksecondhandlive
What it is forWhat it stands for
11 Sep 2025

It is the thing that I've gotten most excited about since Bitcoin.

On stage at Fortune's Brainstorm Tech in Park City, Utah, reported by Ben Weiss; his summary line on Bittensor, which Fortune quoted again in its 15 December 2025 halving coverage.

11 Sep 2025 · Fortunetalksecondhandlive
How it feelsThe line they repeatTheir stake in itsince bitcoin
11 Sep 2025

In the way that the internet was the world wide web of information, Bittensor is creating the world wide web of intelligence

On stage at Fortune's Brainstorm Tech in Park City, Utah, reported by Ben Weiss; framing what Bittensor is.

11 Sep 2025 · Fortunetalksecondhandlive
What they call itThe line they repeatThe world it buildsworld wide web
7 Oct 2025

Greg and Jeff are proven leaders who bring a rare blend of institutional infrastructure experience and startup grit, combined with hands-on experience in Bittensor. Their leadership will be pivotal as Yuma powers the next era of decentralized AI.

Yuma's own announcement that Greg and Jeff Schvey join as COO and CTO, quoting Silbert.

7 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
Their stake in itThe proof they point toera
7 Oct 2025

We're seeing the best minds in crypto move to Bittensor $TAO Welcoming Greg and Jeff to the Yuma team, founders from the early Bitcoin days joining us to help scale decentralized intelligence

X post on the same hire, framing it as talent migration into Bittensor. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

7 Oct 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWhy believe themWho they addressearly bitcoin
9 Oct 2025

Subnet tokens are an emerging asset class, fueled by TAO, that provide investors with unprecedented exposure to a massive wave of AI innovation. The decentralized AI sector has the power to be as transformative as Bitcoin, and Yuma Asset Management is opening the door for investors to access it through Bittensor.

Yuma's own announcement of Yuma Asset Management and its two subnet token funds, quoting Silbert as CEO.

9 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
What they call itWho they addressWhat you getWhy nowwaveasset class
9 Oct 2025

I've not been as excited about anything since Bitcoin as I am about Bittensor

To Bloomberg on the Yuma Asset Management launch, as quoted by crypto.news.

9 Oct 2025 · crypto.newsarticlesecondhandlive
How it feelsTheir stake in itsince bitcoin
9 Oct 2025

I put my business-building jersey back on and I'm the CEO of Yuma

Same Bloomberg remarks, on returning to an operating role, as quoted by crypto.news.

9 Oct 2025 · crypto.newsarticlesecondhandlive
Their stake in itHow they soundjersey
15 Dec 2025

The $TAO halving has me taking a moment to reflect The first time I came across Bittensor, it felt like Bitcoin in 2012 - a small group of builders with a clear, ambitious vision This time, the opportunity is intelligence Greg does a great job laying out the similarities below

X post the day after Bittensor's first halving, quoting a thread by Yuma COO Greg Schvey. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

15 Dec 2025 · @BarrySilbert on Xxsecondhandmanual
What they call itTheir stake in itWhy nowThe line they repeatbitcoin 2012
30 Dec 2025

Decentralized AI is developing quickly, and Grayscale is pioneering access.

X post as Grayscale chairman when Grayscale filed an S-1 to list a Bittensor ETP, quoted by CoinDesk.

30 Dec 2025 · CoinDeskarticlesecondhandlive
Why nowTheir stake in itWho they address
4 Mar 2026

As the decentralized AI market matures, value is beginning to concentrate in Bittensor subnets solving meaningful problems, offering viable alternatives to the closed, centralized systems controlled by tech giants.

Preface to Yuma's second annual State of Bittensor report, quoted by The Block; the report page on yumaai.com did not render its text in this session.

4 Mar 2026 · The Blockarticlesecondhandmanual
What it is againstWhat is at riskThe proof they point to
4 Mar 2026

It's still early, but we're seeing the first signs of this value flow back into subnet tokens, which are becoming more than just network incentives. They are functioning as market validation, signaling the value that each subnet provides to the overall network and the intelligence it generates.

Closing lines of the same State of Bittensor preface, quoted by The Block.

4 Mar 2026 · The Blockarticlesecondhandmanual
The proof they point toWhat you getTheir words for thingsmarket validation
20 Apr 2026

A big moment for subnet tokens and meaningful step forward for institutional participation in Bittensor $TAO

X post on BitGo extending its Yuma partnership to subnet token custody and staking. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

20 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they address
27 Apr 2026

Must read thread re State of Bittensor $TAO from @YumaGroup's COO

X post pointing followers to Greg Schvey's thread after the Yuma Group Summit. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

27 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it

Currentmid 2026 on · 2 quotes

Thin so far: the portfolio-allocation pitch that AI exposure should not be limited to a few big players 038 and cheerleading for late-arriving converts 039.

next big thing

Shift Language turns toward allocation and access rather than origin-story comparison.

26 Jun 2026

AI is becoming a core portfolio allocation. But for most investors, it's limited to a few, big players. Bittensor offers access to a decentralized network of AI projects.

Quoted by Benzinga around the launch of the Yuma Total Market Fund; the article returned 403 and the text was seen only in a search index summary, so the wording is unconfirmed.

26 Jun 2026 · Benzingaarticleunconfirmedlive
Who they addressWhat is missingWhat you get
26 Jul 2026

Jason gets it. He's early in the next big thing, like usual Don't sleep on Bittensor $TAO

X post quoting Jason Calacanis, who had written that he was buying TAO. Post text as indexed by the search engine under the direct X URL; the X page itself was not reachable in this session.

26 Jul 2026 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressWhat joining says about younext big thing

The framework

A brand strategy skeleton turned on the speaker: not what Bittensor's brand is, but what this voice's Bittensor is. Slots with no evidence are left out rather than filled.

1. Foundation

What they say it is for, the world it builds, what it stands for.

Mission

Bittensor exists to open up the development of and access to AI: a permissionless network that incentivises intelligence to solve problems.

11 Sep 2025

I want to open up the development and the access to AI and Bitensor is enabling that

11 Sep 2025 · Fortunetalksecondhandlive
What it is forWhat it stands for

Vision

A move from digital ownership of assets to decentralised ownership of intelligence, a world wide web of intelligence, and possibly a better global store of value than Bitcoin.

20 Nov 2024

Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we're moving from the digital ownership of assets to the decentralized ownership of intelligence.

20 Nov 2024 · Fortunearticlesecondhandlive
The world it buildsWhat they call itThe line they repeatearly bitcoin
11 Sep 2025

In the way that the internet was the world wide web of information, Bittensor is creating the world wide web of intelligence

11 Sep 2025 · Fortunetalksecondhandlive
What they call itThe line they repeatThe world it buildsworld wide web

Values

Openness of development and access, set against closed systems.

11 Sep 2025

I want to open up the development and the access to AI and Bitensor is enabling that

11 Sep 2025 · Fortunetalksecondhandlive
What it is forWhat it stands for

2. The problem

What is broken that Bittensor answers, in their telling.

Market

AI exposure is limited to a few big players, and closed providers are single points of failure.

26 Jun 2026

AI is becoming a core portfolio allocation. But for most investors, it's limited to a few, big players. Bittensor offers access to a decentralized network of AI projects.

26 Jun 2026 · Benzingaarticleunconfirmedlive
Who they addressWhat is missingWhat you get

Institutional

The alternative is closed, centralised AI controlled by tech giants.

4 Mar 2026

As the decentralized AI market matures, value is beginning to concentrate in Bittensor subnets solving meaningful problems, offering viable alternatives to the closed, centralized systems controlled by tech giants.

4 Mar 2026 · The Blockarticlesecondhandmanual
What it is againstWhat is at riskThe proof they point to

3. The opportunity

The tailwinds they cite.

Tailwinds

The convergence of AI and crypto is the next investment era after Bitcoin, Ethereum, NFTs, L2s and DeFi; halvings, ETP filings and institutional custody are the tailwinds he cites.

11 Sep 2025

I believe that the next big wave in crypto is going to be the convergence of AI and crypto

11 Sep 2025 · Fortunetalksecondhandlive
Why nowThe line they repeatwave
15 Dec 2025

The $TAO halving has me taking a moment to reflect The first time I came across Bittensor, it felt like Bitcoin in 2012 - a small group of builders with a clear, ambitious vision This time, the opportunity is intelligence Greg does a great job laying out the similarities below

15 Dec 2025 · @BarrySilbert on Xxsecondhandmanual
What they call itTheir stake in itWhy nowThe line they repeatbitcoin 2012
30 Dec 2025

Decentralized AI is developing quickly, and Grayscale is pioneering access.

30 Dec 2025 · CoinDeskarticlesecondhandlive
Why nowTheir stake in itWho they address
1 more tagged statement
9 Oct 2025

Subnet tokens are an emerging asset class, fueled by TAO, that provide investors with unprecedented exposure to a massive wave of AI innovation. The decentralized AI sector has the power to be as transformative as Bitcoin, and Yuma Asset Management is opening the door for investors to access it through Bittensor.

9 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
What they call itWho they addressWhat you getWhy nowwaveasset class

4. Audience

Who they talk to and what they tell them.

Audiences

He speaks mostly to investors and institutions (Grayscale, BitGo, funds), to newcomers he points at community accounts, and to startups and enterprises he invites to launch subnets while avoiding the word blockchain.

7 Aug 2024

Excited to see Grayscale introducing Bittensor $TAO to the investing world

7 Aug 2024 · @BarrySilbert on Xxsecondhandmanual
Their stake in itWho they addressThe proof they point to
20 Nov 2024

blockchain scares people away

20 Nov 2024 · Fortunearticlesecondhandlive
Who they addressTheir words for thingsHow they sound
20 Nov 2024

There are two flavors of subnet partnerships. We are doing an accelerator, so if you are a startup or an enterprise who has an idea and wants to explore the world of Bittensor and launch a subnet, we will help you. Then we have a subnet incubator, where we will partner up with somebody to build ... a new subnet.

20 Nov 2024 · CoinDeskarticlesecondhandlive
Their stake in itWho they addressWhat you get
22 Nov 2024

New to Bittensor $TAO or just curious? Here are some individuals to follow: @const_reborn @shibshib89 @mogmachine @0xcarro @WSquires @macrocrux @Old_Samster @EvanMalanga @RahulKumaran4 @JosephJacks_ @xponentcrisis @0xarrash @angad_ai @TAOTemplar @kenjon

22 Nov 2024 · @BarrySilbert on Xxsecondhandmanual
Who they addressHow they soundTheir stake in it
5 Jun 2025

A new chapter for Bittensor $TAO: BitGo has partnered with Yuma to bring TAO staking to institutions

5 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they addressWhat you getchapter
9 Oct 2025

Subnet tokens are an emerging asset class, fueled by TAO, that provide investors with unprecedented exposure to a massive wave of AI innovation. The decentralized AI sector has the power to be as transformative as Bitcoin, and Yuma Asset Management is opening the door for investors to access it through Bittensor.

9 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
What they call itWho they addressWhat you getWhy nowwaveasset class
20 Apr 2026

A big moment for subnet tokens and meaningful step forward for institutional participation in Bittensor $TAO

20 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they address
26 Jun 2026

AI is becoming a core portfolio allocation. But for most investors, it's limited to a few, big players. Bittensor offers access to a decentralized network of AI projects.

26 Jun 2026 · Benzingaarticleunconfirmedlive
Who they addressWhat is missingWhat you get
5 more tagged statements
17 Apr 2025

We're going to invest in it, we're going to build on it, we're going to help educate, create awareness, create access. We launched a new business in the fall of last year called Yuma. I'm putting my jersey back on. I'm still running DCG, but I'm back in the game.

Their stake in itHow they soundWho they addressjersey
28 Jun 2025

Went down the Bittensor $TAO rabbit hole with @fundstrat. Fun conversation with Tom, the first Wall Street bitcoin OG

28 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressrabbit hole
7 Oct 2025

We're seeing the best minds in crypto move to Bittensor $TAO Welcoming Greg and Jeff to the Yuma team, founders from the early Bitcoin days joining us to help scale decentralized intelligence

7 Oct 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWhy believe themWho they addressearly bitcoin
30 Dec 2025

Decentralized AI is developing quickly, and Grayscale is pioneering access.

30 Dec 2025 · CoinDeskarticlesecondhandlive
Why nowTheir stake in itWho they address
26 Jul 2026

Jason gets it. He's early in the next big thing, like usual Don't sleep on Bittensor $TAO

26 Jul 2026 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressWhat joining says about younext big thing

5. Competitive positioning

What they set it against.

Against

Against closed AI (OpenAI, Meta, tech giants), against worthless tokens, and against Bitcoiners who call TAO a scam.

4 Mar 2026

As the decentralized AI market matures, value is beginning to concentrate in Bittensor subnets solving meaningful problems, offering viable alternatives to the closed, centralized systems controlled by tech giants.

4 Mar 2026 · The Blockarticlesecondhandmanual
What it is againstWhat is at riskThe proof they point to
Apr 2025

calling $TAO a scam is such a lazy attack. do better

Apr 2025 · CoinDeskarticlesecondhandlive
What it is againstHow they sound

6. Positioning statement

Category frame, differentiator, reason to believe.

Category frame

Bittensor is the next Bitcoin: the world wide web of AI or of intelligence, a decentralised intelligence network, and subnet tokens are an emerging asset class.

20 Nov 2024

If you ask five people: 'What is Bittensor?' You will get five different answers. If you remember early bitcoin, some people would say it's money, some people would say it's gold. Some people would say it's this blockchain [...] The way that I look at Bittensor is as the World Wide Web of AI.

20 Nov 2024 · CoinDeskarticlesecondhandlive
What they call itThe line they repeatTheir words for thingsworld wide webearly bitcoin
11 Sep 2025

In the way that the internet was the world wide web of information, Bittensor is creating the world wide web of intelligence

11 Sep 2025 · Fortunetalksecondhandlive
What they call itThe line they repeatThe world it buildsworld wide web
9 Oct 2025

Subnet tokens are an emerging asset class, fueled by TAO, that provide investors with unprecedented exposure to a massive wave of AI innovation. The decentralized AI sector has the power to be as transformative as Bitcoin, and Yuma Asset Management is opening the door for investors to access it through Bittensor.

9 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
What they call itWho they addressWhat you getWhy nowwaveasset class
15 Dec 2025

The $TAO halving has me taking a moment to reflect The first time I came across Bittensor, it felt like Bitcoin in 2012 - a small group of builders with a clear, ambitious vision This time, the opportunity is intelligence Greg does a great job laying out the similarities below

15 Dec 2025 · @BarrySilbert on Xxsecondhandmanual
What they call itTheir stake in itWhy nowThe line they repeatbitcoin 2012
4 more tagged statements
20 Nov 2024

Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we're moving from the digital ownership of assets to the decentralized ownership of intelligence.

20 Nov 2024 · Fortunearticlesecondhandlive
The world it buildsWhat they call itThe line they repeatearly bitcoin

Differentiator

Of the decentralised AI projects DCG backed, Bittensor is the one that reached escape velocity.

Reason to believe

Same origin story and token economics as Bitcoin (whitepaper, code, 21 million, halvings), plus the best minds in crypto moving to it.

7 Oct 2025

We're seeing the best minds in crypto move to Bittensor $TAO Welcoming Greg and Jeff to the Yuma team, founders from the early Bitcoin days joining us to help scale decentralized intelligence

7 Oct 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWhy believe themWho they addressearly bitcoin

7. Value proposition

The benefit they claim, the feeling they sell, what joining says about you.

Functional

Access and exposure: institutional staking, subnet token funds, an ETP, and redundancy against API restrictions; subnet tokens as market validation.

20 Nov 2024

There are two flavors of subnet partnerships. We are doing an accelerator, so if you are a startup or an enterprise who has an idea and wants to explore the world of Bittensor and launch a subnet, we will help you. Then we have a subnet incubator, where we will partner up with somebody to build ... a new subnet.

20 Nov 2024 · CoinDeskarticlesecondhandlive
Their stake in itWho they addressWhat you get
5 Jun 2025

A new chapter for Bittensor $TAO: BitGo has partnered with Yuma to bring TAO staking to institutions

5 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they addressWhat you getchapter
9 Oct 2025

Subnet tokens are an emerging asset class, fueled by TAO, that provide investors with unprecedented exposure to a massive wave of AI innovation. The decentralized AI sector has the power to be as transformative as Bitcoin, and Yuma Asset Management is opening the door for investors to access it through Bittensor.

9 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
What they call itWho they addressWhat you getWhy nowwaveasset class
4 Mar 2026

It's still early, but we're seeing the first signs of this value flow back into subnet tokens, which are becoming more than just network incentives. They are functioning as market validation, signaling the value that each subnet provides to the overall network and the intelligence it generates.

4 Mar 2026 · The Blockarticlesecondhandmanual
The proof they point toWhat you getTheir words for thingsmarket validation
26 Jun 2026

AI is becoming a core portfolio allocation. But for most investors, it's limited to a few, big players. Bittensor offers access to a decentralized network of AI projects.

26 Jun 2026 · Benzingaarticleunconfirmedlive
Who they addressWhat is missingWhat you get
1 more tagged statement

Emotional

The excitement of being early, the most excited he has been since Bitcoin, and the promise that it will be obvious in hindsight.

19 Sep 2024

It is going to surprise a lot of people and will be obvious in hindsight

19 Sep 2024 · The Defiantarticlesecondhandlive
How it feelsThe line they repeatHow they soundhindsight
11 Sep 2025

It is the thing that I've gotten most excited about since Bitcoin.

11 Sep 2025 · Fortunetalksecondhandlive
How it feelsThe line they repeatTheir stake in itsince bitcoin
9 Oct 2025

I've not been as excited about anything since Bitcoin as I am about Bittensor

9 Oct 2025 · crypto.newsarticlesecondhandlive
How it feelsTheir stake in itsince bitcoin

Self-expressive

Buying TAO marks you as early to the next big thing.

26 Jul 2026

Jason gets it. He's early in the next big thing, like usual Don't sleep on Bittensor $TAO

26 Jul 2026 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressWhat joining says about younext big thing

8. Messaging hierarchy

The line they repeat and the proof they point to.

The line

Bittensor is the next Bitcoin, the world wide web of intelligence, the thing he has been most excited about since Bitcoin.

20 Nov 2024

Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we're moving from the digital ownership of assets to the decentralized ownership of intelligence.

20 Nov 2024 · Fortunearticlesecondhandlive
The world it buildsWhat they call itThe line they repeatearly bitcoin
20 Nov 2024

If you ask five people: 'What is Bittensor?' You will get five different answers. If you remember early bitcoin, some people would say it's money, some people would say it's gold. Some people would say it's this blockchain [...] The way that I look at Bittensor is as the World Wide Web of AI.

20 Nov 2024 · CoinDeskarticlesecondhandlive
What they call itThe line they repeatTheir words for thingsworld wide webearly bitcoin
11 Sep 2025

I believe that the next big wave in crypto is going to be the convergence of AI and crypto

11 Sep 2025 · Fortunetalksecondhandlive
Why nowThe line they repeatwave
11 Sep 2025

It is the thing that I've gotten most excited about since Bitcoin.

11 Sep 2025 · Fortunetalksecondhandlive
How it feelsThe line they repeatTheir stake in itsince bitcoin
11 Sep 2025

In the way that the internet was the world wide web of information, Bittensor is creating the world wide web of intelligence

11 Sep 2025 · Fortunetalksecondhandlive
What they call itThe line they repeatThe world it buildsworld wide web
15 Dec 2025

The $TAO halving has me taking a moment to reflect The first time I came across Bittensor, it felt like Bitcoin in 2012 - a small group of builders with a clear, ambitious vision This time, the opportunity is intelligence Greg does a great job laying out the similarities below

15 Dec 2025 · @BarrySilbert on Xxsecondhandmanual
What they call itTheir stake in itWhy nowThe line they repeatbitcoin 2012
19 Sep 2024

It is going to surprise a lot of people and will be obvious in hindsight

19 Sep 2024 · The Defiantarticlesecondhandlive
How it feelsThe line they repeatHow they soundhindsight

Proof

Grayscale products, BitGo custody and staking, Yuma hires and funds, subnet growth and value flowing into subnet tokens.

7 Aug 2024

Excited to see Grayscale introducing Bittensor $TAO to the investing world

7 Aug 2024 · @BarrySilbert on Xxsecondhandmanual
Their stake in itWho they addressThe proof they point to
13 Dec 2024

AI Agents + Bittensor $TAO, brought to you by Masa & @YumaGroup

13 Dec 2024 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it
5 Jun 2025

A new chapter for Bittensor $TAO: BitGo has partnered with Yuma to bring TAO staking to institutions

5 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they addressWhat you getchapter
7 Oct 2025

Greg and Jeff are proven leaders who bring a rare blend of institutional infrastructure experience and startup grit, combined with hands-on experience in Bittensor. Their leadership will be pivotal as Yuma powers the next era of decentralized AI.

7 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
Their stake in itThe proof they point toera
7 Oct 2025

We're seeing the best minds in crypto move to Bittensor $TAO Welcoming Greg and Jeff to the Yuma team, founders from the early Bitcoin days joining us to help scale decentralized intelligence

7 Oct 2025 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWhy believe themWho they addressearly bitcoin
4 Mar 2026

As the decentralized AI market matures, value is beginning to concentrate in Bittensor subnets solving meaningful problems, offering viable alternatives to the closed, centralized systems controlled by tech giants.

4 Mar 2026 · The Blockarticlesecondhandmanual
What it is againstWhat is at riskThe proof they point to
4 Mar 2026

It's still early, but we're seeing the first signs of this value flow back into subnet tokens, which are becoming more than just network incentives. They are functioning as market validation, signaling the value that each subnet provides to the overall network and the intelligence it generates.

4 Mar 2026 · The Blockarticlesecondhandmanual
The proof they point toWhat you getTheir words for thingsmarket validation
20 Apr 2026

A big moment for subnet tokens and meaningful step forward for institutional participation in Bittensor $TAO

20 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toWho they address
27 Apr 2026

Must read thread re State of Bittensor $TAO from @YumaGroup's COO

27 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it

9. Voice

Register more than claim.

Voice

Short, promotional X posts with $TAO cashtags and 'don't sleep' energy; blunt when attacked ('lazy attack. do better'); sports and comeback idioms in interviews.

19 Sep 2024

It is going to surprise a lot of people and will be obvious in hindsight

19 Sep 2024 · The Defiantarticlesecondhandlive
How it feelsThe line they repeatHow they soundhindsight
20 Nov 2024

blockchain scares people away

20 Nov 2024 · Fortunearticlesecondhandlive
Who they addressTheir words for thingsHow they sound
22 Nov 2024

New to Bittensor $TAO or just curious? Here are some individuals to follow: @const_reborn @shibshib89 @mogmachine @0xcarro @WSquires @macrocrux @Old_Samster @EvanMalanga @RahulKumaran4 @JosephJacks_ @xponentcrisis @0xarrash @angad_ai @TAOTemplar @kenjon

22 Nov 2024 · @BarrySilbert on Xxsecondhandmanual
Who they addressHow they soundTheir stake in it
17 Apr 2025

We're going to invest in it, we're going to build on it, we're going to help educate, create awareness, create access. We launched a new business in the fall of last year called Yuma. I'm putting my jersey back on. I'm still running DCG, but I'm back in the game.

Their stake in itHow they soundWho they addressjersey
Apr 2025

calling $TAO a scam is such a lazy attack. do better

Apr 2025 · CoinDeskarticlesecondhandlive
What it is againstHow they sound
30 Apr 2025

Enjoyed the opportunity to go macro with @fintechfrank at @TheBlock__ We went all the way back to the early days of Bitcoin and the evolution of digital assets, to deAI & Bittensor $TAO, and what we're building today at @YumaGroup A lot to cover, and a lot more to come...

30 Apr 2025 · @BarrySilbert on Xxsecondhandmanual
Their words for thingsTheir stake in itHow they sound
28 Jun 2025

Went down the Bittensor $TAO rabbit hole with @fundstrat. Fun conversation with Tom, the first Wall Street bitcoin OG

28 Jun 2025 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressrabbit hole
9 Oct 2025

I put my business-building jersey back on and I'm the CEO of Yuma

9 Oct 2025 · crypto.newsarticlesecondhandlive
Their stake in itHow they soundjersey
26 Jul 2026

Jason gets it. He's early in the next big thing, like usual Don't sleep on Bittensor $TAO

26 Jul 2026 · @BarrySilbert on Xxsecondhandmanual
How they soundWho they addressWhat joining says about younext big thing

Words they use

decentralized AIdeAIdecentralized intelligencesubnet tokensasset classinstitutionalaccessearly days of Bitcoinescape velocity$TAOnext big thingconvergence of AI and cryptoworld wide web of intelligence

Words they avoid

blockchainscam

10. Narrator and network

How they describe their own relation to it.

Relationship

Investor since DCG's 2021 stake, then operator: CEO of Yuma, back in the game with his jersey on, chairman of the Grayscale vehicle, cheerleader for the community.

7 Aug 2024

Excited to see Grayscale introducing Bittensor $TAO to the investing world

7 Aug 2024 · @BarrySilbert on Xxsecondhandmanual
Their stake in itWho they addressThe proof they point to
20 Nov 2024

There are two flavors of subnet partnerships. We are doing an accelerator, so if you are a startup or an enterprise who has an idea and wants to explore the world of Bittensor and launch a subnet, we will help you. Then we have a subnet incubator, where we will partner up with somebody to build ... a new subnet.

20 Nov 2024 · CoinDeskarticlesecondhandlive
Their stake in itWho they addressWhat you get
17 Apr 2025

We're going to invest in it, we're going to build on it, we're going to help educate, create awareness, create access. We launched a new business in the fall of last year called Yuma. I'm putting my jersey back on. I'm still running DCG, but I'm back in the game.

Their stake in itHow they soundWho they addressjersey
7 Oct 2025

Greg and Jeff are proven leaders who bring a rare blend of institutional infrastructure experience and startup grit, combined with hands-on experience in Bittensor. Their leadership will be pivotal as Yuma powers the next era of decentralized AI.

7 Oct 2025 · Yuma (yumaai.com)blogverifiedlive
Their stake in itThe proof they point toera
9 Oct 2025

I put my business-building jersey back on and I'm the CEO of Yuma

9 Oct 2025 · crypto.newsarticlesecondhandlive
Their stake in itHow they soundjersey
15 Dec 2025

The $TAO halving has me taking a moment to reflect The first time I came across Bittensor, it felt like Bitcoin in 2012 - a small group of builders with a clear, ambitious vision This time, the opportunity is intelligence Greg does a great job laying out the similarities below

15 Dec 2025 · @BarrySilbert on Xxsecondhandmanual
What they call itTheir stake in itWhy nowThe line they repeatbitcoin 2012
30 Dec 2025

Decentralized AI is developing quickly, and Grayscale is pioneering access.

30 Dec 2025 · CoinDeskarticlesecondhandlive
Why nowTheir stake in itWho they address
7 more tagged statements
22 Nov 2024

New to Bittensor $TAO or just curious? Here are some individuals to follow: @const_reborn @shibshib89 @mogmachine @0xcarro @WSquires @macrocrux @Old_Samster @EvanMalanga @RahulKumaran4 @JosephJacks_ @xponentcrisis @0xarrash @angad_ai @TAOTemplar @kenjon

22 Nov 2024 · @BarrySilbert on Xxsecondhandmanual
Who they addressHow they soundTheir stake in it
13 Dec 2024

AI Agents + Bittensor $TAO, brought to you by Masa & @YumaGroup

13 Dec 2024 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it
30 Apr 2025

Enjoyed the opportunity to go macro with @fintechfrank at @TheBlock__ We went all the way back to the early days of Bitcoin and the evolution of digital assets, to deAI & Bittensor $TAO, and what we're building today at @YumaGroup A lot to cover, and a lot more to come...

30 Apr 2025 · @BarrySilbert on Xxsecondhandmanual
Their words for thingsTheir stake in itHow they sound
11 Sep 2025

It is the thing that I've gotten most excited about since Bitcoin.

11 Sep 2025 · Fortunetalksecondhandlive
How it feelsThe line they repeatTheir stake in itsince bitcoin
9 Oct 2025

I've not been as excited about anything since Bitcoin as I am about Bittensor

9 Oct 2025 · crypto.newsarticlesecondhandlive
How it feelsTheir stake in itsince bitcoin
27 Apr 2026

Must read thread re State of Bittensor $TAO from @YumaGroup's COO

27 Apr 2026 · @BarrySilbert on Xxsecondhandmanual
The proof they point toTheir stake in it

11. Language conventions

What they call things, and refuse to call them.

Terms

He says 'decentralized AI', 'deAI' and 'decentralized intelligence', calls subnet tokens an asset class and market validation, and avoids 'blockchain' because it scares people away.

20 Nov 2024

blockchain scares people away

20 Nov 2024 · Fortunearticlesecondhandlive
Who they addressTheir words for thingsHow they sound
20 Nov 2024

If you ask five people: 'What is Bittensor?' You will get five different answers. If you remember early bitcoin, some people would say it's money, some people would say it's gold. Some people would say it's this blockchain [...] The way that I look at Bittensor is as the World Wide Web of AI.

20 Nov 2024 · CoinDeskarticlesecondhandlive
What they call itThe line they repeatTheir words for thingsworld wide webearly bitcoin
30 Apr 2025

Enjoyed the opportunity to go macro with @fintechfrank at @TheBlock__ We went all the way back to the early days of Bitcoin and the evolution of digital assets, to deAI & Bittensor $TAO, and what we're building today at @YumaGroup A lot to cover, and a lot more to come...

30 Apr 2025 · @BarrySilbert on Xxsecondhandmanual
Their words for thingsTheir stake in itHow they sound
4 Mar 2026

It's still early, but we're seeing the first signs of this value flow back into subnet tokens, which are becoming more than just network incentives. They are functioning as market validation, signaling the value that each subnet provides to the overall network and the intelligence it generates.

4 Mar 2026 · The Blockarticlesecondhandmanual
The proof they point toWhat you getTheir words for thingsmarket validation

Coinages

deAI
his shorthand for decentralised AI as a sector 020
world wide web of intelligence
Bittensor as the open access layer for intelligence, as the web was for information 026
subnet tokens as an emerging asset class
alpha tokens framed as an investable category fueled by TAO 029
market validation
subnet token prices as a signal of the value each subnet provides 035

Relations

Who they agree with, borrow from, or argue against, with the quote that shows it.

  • argues Parker Lewis · Lewis called Silbert and Raoul Pal affinity scammers for promoting TAO; Silbert replied that calling TAO a scam is a lazy attack. 009
  • agrees Raoul Pal · Pal hosted and amplified the next-Bitcoin thesis; the episode description calls Bittensor potentially more transformative than Bitcoin. 014
  • borrows Greg Schvey · Silbert quotes Schvey's thread laying out the Bitcoin-2012 similarities. 032
  • responds Jason Calacanis · Endorses Calacanis's public decision to buy TAO. 039
  • agrees Tom Lee · Fundstrat session on TAO; calls Lee the first Wall Street bitcoin OG. 022
  • introduces Jacob Steeves · Lists @const_reborn first among accounts newcomers should follow. 007
  • Joseph Jacks agrees this voice · Names Silbert as an early believer alongside his own 2023 entry.

Shared frames

Subnets they speak for or about

No quote about a particular subnet on record.

Appearances

Public appearances on the record, whether or not a quote was taken.

  • 2025-04-17 Barry Silbert is Back: The Next Big Crypto Bet Raoul Pal: The Journey Man (Real Vision) · podcast · Recorded 9 April 2025; his Bitcoin origin story, DCG, then Bittensor and Yuma. YouTube id XoqdTfKQCjA. No public transcript reached; quotes taken from press write-ups.
  • 2025-04-30 Barry Silbert on crypto's evolution and why Bittensor may be the next Bitcoin The Scoop (The Block), host Frank Chaparro · podcast · 2008 crisis, Bitcoin's narrative, why Bittensor mirrors early Bitcoin, Yuma's playbook. YouTube id 3qIL4oCe1Uo. Page has chapters only, no transcript; no quotes extracted.
  • 2025-06-18 Panel with David Lawee and Michael del Castillo Proof of Talk 2025, Paris · talk · Announced Yuma's asset management arm for subnet (alpha) token strategies. Coverage paraphrases only; no direct quotes.
  • 2025-06-26 Crypto and AI Outlook with Tom Lee and Barry Silbert Fundstrat Direct · youtube · Webinar on Bittensor and TAO with Tom Lee; YouTube id E0Wmq0emlTc. No transcript reached.
  • 2025-09-11 Fortune Brainstorm Tech session Fortune Brainstorm Tech, Park City · talk · AI and crypto convergence, world wide web of intelligence. Quotes via Fortune's report.
  • 2025-10 The Incentive Layer Yuma documentary · youtube · Documentary on Bittensor's incentive design featuring Silbert; page carries no quotes from him.
  • 2026-04 The State of Bittensor presentation Yuma Group Summit · talk · Silbert presented on the state of Bittensor and later posted the deck on X; the presentation text was not reached.
  • 2026-05 Speaker listing Milken Institute Global Conference 2026 · talk · Listed as speaker; session content not found.

Something wrong or missing? Quotes are corrected as they arrive; a misattribution is removed first and argued after. How to file one · GitHub issue