Are we set to repeat 2000 or 2008 is an important markets question? Equity indices sold off at both of those points, but for distinctly different reason. The Dispatch sees a higher probability that we are facing a set up like the year 2000, where a subset of stocks became overvalued. The unwind of the […]
crypto lobbying
Liquidity Flooded Crypto in 2021
Liquidity flooded into crypto in 2021 as venture capital flows into the sector were larger than all prior years. Yes, the industry is new and the history of flows is short, but the surge of capital into the sector has impacted valuations. The start of 2022 has seen established crypto assets start soft, however, there […]
Pension Fund Announces Crypto Investment
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 hashrate migrates to the US
Bitcoin hashrate migrates to the US with the share having doubled since April 2021 and reaching the #1 position globally. US share of bitcoin hashrate reached 34.5% in September, according to University of Cambridge because of China’s crypto mining ban. This geographic migration is important because US-based miners use far more renewable power than Chinese […]
Bitcoin improves portfolio returns
Dispatch #27 – 2021 August 20th, 2021 The focus story this week is the absolute and risk adjusted return enhancement from adding bitcoin to traditional 60:40 portfolios. We highlight the study by Econometric, a blockchain analysis firm, that illustrates the superior outcome over most historic time horizons if a portfolio added and kept a 5% […]