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Welcome to Wall Street

Grayscale This is what it hitting it out of the park looks like. Grayscale now has $22 billion under management in their cryptocurrency funds, up from $2 billion 12 months ago. Can they get to $100 billion? I think so, faster than people think too. Even more compelling is the nature of the investors. In

14
Jan

America for sale

The end of the empire Much as I don’t like to admit it, the end of the US empire was accurately called 30 years ago by Coca Cola salesman Warren Buffett. In 1990 he raised the alarm about net international investment in America turning negative, noting that America was being “sold out” to foreigners. The path to

07
Jan

A visitor from space

A visit from an alien If an alien visited plant earth and wished to make a purchase, which explanation of money and value would the alien believe? Money 1: Has a publically auditable record of every transaction ever; Has an absolutely known supply at all times in the present and future; Can only be mined by

18
Dec

The Bitcoin Pitch Deck

Bitcoin never had a pitch deck, the code was simply released into the wild and it went from there. As a parting gift for 2020, here is what one might look like.

11
Dec

Down

Falling Down Almost everything in the world is going up at the moment, apart from interest rates and Joe Biden’s IQ. We posted this chart earlier in the year about professional analysts expectations for rates and how they seem to be perpetually wrong. Everyone thinks they will rise and they seemingly refuse to. It seems

04
Dec

Crash!

Crash Bitcoin has crashed by $50 billion. Actually, this headline was Friday last week and bitcoin has since recovered to be exactly where it was before it “crashed”. A good reminder though that bitcoin will, and has, dipped many times along the road. It has dropped by 85% more than 5 times since it launched

20
Nov

A very clever moron

A multi-asset portfolio As of December 2019 a balanced portfolio, based on global market capitalisation, would have looked something like this. 41% equity, 25% bonds, 20% investment grade credit and then the rest. At its current market capitalisation of $325 billion bitcoin would represent 0.24% of this portfolio. It would not show up on the

13
Nov

District 14

District 14 She did not wait long. Immediately after Biden was declared winner and having laid low for 6 months while the election battle raged, the truce ended. The Representative of the 14th New York district, Alexandria Ocasio-Cortez, raged against the Democrat machine. “The people who elected Biden will now be forgotten, he will swing

05
Nov

President Harris

President Harris? A few weeks back I said I marginally preferred a Biden victory from the perspective of the performance of our funds. Essentially, we are operating the funds as a hedge against the collapsing financial system and our 100% + returns in just over two years show that it is working. If our funds

30
Oct

The digital frontier

The Levels Back in August we wrote about “The Levels”. The various barriers that the bitcoin would face on its journey, one of the more significant being the US$13,800 barrier. “Again, based on long and short selling their is a great deal of potential activity at $13,800. This is roughly the 90 day average price

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