All Onboard Bitcoin

It’s not just the futurists, dreamers and crazies anymore. We all want our Bitcoin

As we move into the final weeks of 2020, we are seeing heightened interest in digital monies, digital assets, fintech and blockchain. For us these have been central to our investment thesis for the last decade. Now that we are preparing for another closing of Blockchain Coinvestors, we encourage you to go to www.blockchaincoinvestors.com and sign up if you are an accredited investor and want to know more.

The good news is coming in fast now providing tailwinds for this area. It is not too late to make sure you have capital exposure.

To recap some of the latest news about how investors are pivoting into this space:

1. More of the world’s leading hedge fund managers are betting on Bitcoin. Leading investors including Stanley Druckenmiller, Paul Tudor Jones, Bill Miller, Cathie Wood, and others, are all investing into digital assets and this is reflected in the bitcoin whales analyses, where more institutional owners are climbing the ranks.
2. Treasurers of corporations with large cash balances are also taking notice as they see the likes of MicroStrategy, Square, and a host of others investing balance sheet cash into bitcoin. With the next massive issuance of trillions of US dollars imminent (once the next Covid driven infusion of cash is agreed in Washington) investors are looking for scarce assets to store their cash in. For Gosh sake, a 169 year old East coast life insurance company - Mass Mutual — just bought $100m!
3. For us as equity investors in blockchain businesses, the most powerful trend is towards large institutional support for digital monies and digital assets. When PayPal announces that it will offer Bitcoin, Ether, Litecoin, and Bitcoin Cash to its 300 million users, it needs partners to make it a reality. Our portfolio companies like Anchorage, Bitgo, Coinbase, Paxos, Securitize, SFOX, Uphold, Wyre and many others are well positioned as this institutional demand grows.
4. The Covid pandemic and US elections have meant that many governments have been distracted, but the digital money conversation is still moving forward. China now has a working digital currency that has been used in millions of transactions representing billions of yuan of value. It…