BWJ 014: Do Your Part; Funding Bitcoin Startups; Once A Millennium; and more.
This week: What happens when a Bitcoiner takes a “Buy Bitcoin” sign to a protest? Why should we be excited about early-stage equity investment? When is it important to sit up and take notice?
Do Your Part
What happens when a Bitcoiner takes a “Buy Bitcoin” sign to a protest?
On Saturday I attended a protest in Melbourne, hoping to make it very clear that the proposed pandemic legislation is not acceptable, and force the Government to reconsider. Thankfully there was a huge turnout, with circa 100,000 people voicing their concerns, clearly worried about the blatant attack on peoples freedoms.
Opportunistically I took the chance to promote Bitcoin’s credentials as freedom money, which sparked numerous conversations with people, all wanting to know more about this nascent technology. How can I trust it? Where can I buy it? Why is it relevant to freedom?
I of course tried to answer all these as quickly as possible, so as not to lose sight of my wife and child ahead of me, as the crowds thronged the streets of the city. Amusingly this selfie found a rather larger audience than I expected, as it was picked up by Bitcoin Magazine, who quite rightly decided to reiterate to Bitcoiners around the world: “Do Your Part”.
Funding Bitcoin Startups
Why should we be excited about early-stage equity investment?
I was first introduced to the team at Ten31 earlier this year, immediately loving their single-minded focus on Bitcoin startups, a trait in the early-stage equity investment space that to date I had not encountered. The portfolio of quality companies they’re invested into speaks for itself, whilst their impressive progress has been bolstered by the arrival of some prominent names in the Bitcoin space: Matt Odell, Marty Bent, Michael Tanguma, and Parker Lewis.
Of particular interest to me, is the insight that the total funds invested in Bitcoin startups to date, is dwarfed by the venture captial that has been deployed in the wider “crypto” ecosystem. When you consider Bitcoin is 43% of the almost $3 trillion usd cryptocurrency market, and that as Bitcoiners we have deep conviction in its future success, I am left of the belief there are plenty of awesome investments out there in need of funding.
No doubt outpacing Bitcoin returns will be hard, but mission-aligned founders and investors build great companies, so if anyone is going to do it then this is the team to try. What a great conversation this was, leaving me extremely optimistic on the potential of the ecosystem, and happy to have found the home of my next early-stage equity deals; an area of the investment space I plan to re-enter when funds suffice.
Once A Millennium
When is it important to sit up and take notice of an opportunity?
Preston Pysh and John Vallis are two of my favourite Bitcoin educators, creating excellent content at an impressive pace, always eloquent, honest, and extremely insightful. This conversation was no different, with something for experienced Bitcoiners, and those just entering the space alike.
The fact that both are so bullish on Bitcoin is something one needs to take notice of, utilising their conviction and research, to enrichen one’s investment thesis. I particularly liked the idea, from a value investor perspective, that there will come a point at which equities will again price in versus Bitcoin.
Just where this journey might take us is anyone’s guess, but with rigorous discussion like this, it will certainly draw in more intellect and capital. When someone you respect tells you it’s the best opportunity they’ve seen, well, it’s time to take action…
Highly recommend:
Listen: “Does The Stock To Flow Model Eventually Break” with Plan B and Preston Pysh
Read: “Asset DNA: Explaining Bitcoin’s Speculative Attack On The Dollar” by Croesus
Watch: “Global Lockdown, Supply Chain Constraints, End Game” with Stephan Livera and Mark Moss
We’re So Bloody Early
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