This Crypto Hedge Fund More Than Doubled Its Returns This Year Despite The Crisis
Plus new financings and activity around censorship resistant domains
Happy Thursday, Blockfolians
Here’s an unexpected story of financial success in what has admittedly been a very difficult period for most investors.
For Blocktower, however, it has been a strong performing period. According to CoinDesk:
The fund – loaded at its August 2017 inception with $140 million in assets – has returned 33% in just the first four months of 2020, two BlockTower investors said. The four-month return beat in that period bitcoin (up 20%, according to the CoinDesk Bitcoin Price Index), the S&P 500 (down 10% in the biggest drop since the 2008 recession, according to Federal Reserve Bank of St. Louis data) and hedge funds broadly (up 21.4% in crypto and down 4.5% out of it, according to Eurekahedge average return profiles).
So what was the secret? According to one insider: “the hedge fund has been deploying spot, derivatives and algorithmic trades to capture returns from extreme movements, market dislocations and sudden volatility like the recent market upheaval.”
Not bad for one of the most economically volatile periods in global history!
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Kevin Rooke @kerookeGrayscale's Bitcoin Trust bought 18,910 Bitcoins since the halving. Only 12,337 Bitcoins have been mined since the halving. Wall Street wants Bitcoin, and they don't care what Goldman Sachs has to say. https://t.co/Br6a4ijuze
Preston Pysh has a great breakdown on Miner Capitulation in the wake of the halving
A Really Big Number We Should Be Paying Attention To
That’s the volume of trades around censorship-resistant domain names have happened since the launch of Handshake
Absolutely savage work from The Onion.