In 2022 This is our final note for the year. Despite an ordinary finish, it has been an amazing year. There is no question that our core asset hit the mainstream in 2021 and this time around due to institutional adoption. Irrespective of short-term prices, our macroeconomic thesis continues to play out. We only see

How to lose $1 billion in one afternoon Brewster’s Millions was a fun film from the mid 80’s. The premise was that Brewster must spend $30 million in 30 days in order to inherit $300 million. The rules of the game were: not allowed to own any assets, destroy the money, gift it, give it

Transitory Senate Banking Committee Ranking Member Pat Toomey (R-Pa.): “How long does inflation have to run above your target before the Fed decides, maybe it’s not so transitory?” Powell: “the word has different meanings to different people, the Federal Reserve tend to use it to mean that it won’t leave a permanent mark in the form