The Houston Firefighters’ Pension Fund announced crypto investment last week to become the first US institution to disclose an allocation to digital assets. While there has been speculation of institutional investor participation, the $25m investment in bitcoin and ether by the $5.5bn asset fund, is the first official announcement. Could this event lead to the […]
bitcoin adoption
52% of Institutional Investors Own Crypto
52% of institutional investors own crypto assets, according to Fidelity’s 2021 Digital Asset Study, a robust survey of 1,100 global institutions. 71% of Asian institutions in the sample have already allocated to crypto, 56% in Europe and only 33% in the US. The Dispatch is not surprised that US institutions’ adoption trails offshore peers because […]
Social Security Insolvency is Looming
Dispatch #29 – 2021 September 10th, 2021 Looming Social Security insolvency, highlighted in the 2021 Trustees Report, is the lead story this week. The retirement Trust Fund (called old-age insurance) is set to run out in 2033 and the Medicare Trust Fund will be empty even earlier in 2026. How’s that for just around the […]
Bitcoin gets Musked & SEC staff letter on crypto
Dispatch #15 – 2021 May 14th, 2021 This week started with Bitcoin acting like a mature asset, correlating to the stock selloff. However, we were quickly reminded that Bitcoin is just a 12-year-old asset when Elon Musk’s tweet led to a sharp selloff. The top story, though, is a SEC staff comment that further solidifies […]
Fidelity Bitcoin pricing model
Dispatch #12 -2021 April 23rd, 2021 The leading story this week is the Bitcoin pricing model published by Fidelity’s Jurrien Timmer. This study incorporates the exponential demand curve with the already well understood exponential supply decline. He uses the mobile phone adoption curve to model how the Bitcoin price may evolve over the long term. […]