March 2020 - Market Update

March 2020 - Market Update

While near-term uncertainty abounds, we are confident the next move for BTC will likely not be predicated on crypto-specific fundamentals or crypto-specific market regimes. Instead the global macro environment will dictate BTC in the near term. Will crypto-specific quantitative data still be able to shine a light on the next move, even if that next move is dictated by 10yr yields and VIX’s?

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February 2020 - Market Update

February 2020 - Market Update

10,000 Baby Boomers turn 65 every day. An estimated $59 trillion, with a T, of wealth will be transferred from Boomers to Millennials by 2061. This has been dubbed "The Great Wealth Transfer". The below table from Charles Schwab shows top self-directed 401k equity holdings by generation. The Grayscale Bitcoin Trust is the *fifth* most popular equity holding in Millennial 401k's. This is just GBTC holdings- excluding BTC owned in Coinbase, Cash App, Robin Hood, etc. I cannot overstate the importance of this demographic shift and Millennials’ understanding and demand for BTC to the coming years and decades.

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January 2020 - Market Update

January 2020 - Market Update

2020 promises to bring just as much, and likely more excitement than last year. The 2020’s promise to bring just as much, and likely more excitement than the last decade. Today we find ourselves deeply involved in something that barely existed a decade ago, and something that I didn’t know existed at all a decade ago. We strongly believe that thing, Distributed Ledger Technology and crypto assets, is an important piece of an even bigger, more important thing we call The Trust Revolution. We strongly believe The Trust Revolution will advance significantly in the coming decade and in the decades that follow. We feel obligated to do whatever we can to help that cause because we believe it will make the world a better place. It’s our honor to participate.

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December 2019 - Market Update

December 2019 - Market Update

While the last five months of price action has been disappointing, we believe it is transitory and explainable. The macro backdrop for BTC has unequivocally strengthened, despite lackluster price action. The whole world is racing to see who can devalue their currency the fastest by cutting interest rates and juicing QE. Governments are spending more than they bring in at an increasing rate – the US budget deficit will be a trillion dollars this year and another trillion next year.

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Bloomberg: The Future of Digital Assets

Bloomberg: The Future of Digital Assets

Travis Kling, founder and CIO of Ikigai Asset Management; John Pfeffer, founder of Pfeffer Capital and Charles McGarraugh, head of markets for Blockchain sat down with Bloomberg’s Alastair Marsh at The Future of Digital Assets briefing in London for a discussion of the factors investors should consider as they evaluate Bitcoin against today’s macro backdrop.

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November 2019 - Market Update

November 2019 - Market Update

As a career investor in traditional asset classes prior to jumping into crypto and founding Ikigai, I have plenty of experience with catalysts and market movements. Nothing moves like crypto. I can’t imagine a technology or asset class that could so quickly become so firmly entrenched in the global macro landscape while remaining still in a state of relative infancy. Said differently, we have SO much further to go and crypto/DLT are ALREADY front and center of global stage. This. Thing. Is. Never. Going. Away.

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October 2019 - Market Update

October 2019 - Market Update

Make no mistake, Bitcoin is deeply antifragile – perhaps its single most attractive characteristic. I liken Bitcoin to an X-Man toddler. Yeah you can push on it right now and it will tump over. And you can even kick it in the head while its tumped over. But it will be fine. It will get back up, no worse for wear. And when it grows up, it is going to kick your ass.

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August 2019 - Market Update

August 2019 - Market Update

July was nothing short of historic for Bitcoin and crypto as a whole. In a single seven day stretch, 1) The Chairman of the Fed testified to Congress about it; 2) The President tweeted about it; 3) The Treasury Secretary gave a formal press conference about it; and 4) Congress questioned a Facebook executive and other crypto ecosystem participants for two days about it…

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July 2019 - Market Update

July 2019 - Market Update

To that end, we are well on our way to new ATHs for BTC after a truly spectacular Q2-19 - the fourth best quarterly performance since 2012. In our Monthly Update letter that went out June 1st we said, “last month we stated that new all-time highs were well within reach for 2020. We now believe that may have proven too conservative, and there is a meaningful chance new ATHs are possible in 2019, and likely in 2020”.

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June 2019 - Market Update

June 2019 - Market Update

The meme “the herd is coming” is actually beginning to play out. The meme of “get off zero” is gaining real traction. Many new projects are set to launch through year-end. Human and financial capital are pouring into the space to provide the necessary products and services to scale crypto to a multi-trillion-dollar asset class. It’s happening, and it’s happening quickly. 

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