January Update

Right now is a nice time to confirm two different theses from previous letters.

  1. This entire market (from a valuation perspective) is 90% Bitcoin. Ignoring technology, Bitcoin is the network that is focused solely on value protection. Looking at the Bitcoin price for the past year we can see it has finally settled back into the multi-year trend. Screen Shot 2018-02-05 at 9.31.01 AM.png

And now looking at the market recall the thinking in November:

Screen Shot 2018-02-05 at 10.34.55 AM.png
Nov letter

2. New money wave drove short term speculative price bubble

The run past 370b to 800b+ was indeed a micro price bubble (remember I said this market is rising and boiling at the same time). The “new money” wave I mentioned in October drove this movement:

Screen Shot 2018-02-05 at 10.45.40 AM.png
October letter


This is also why I suggested securing profits in my two previous letters. Remember a year ago we dreamed of reaching a 100b market, now we are settling into a 300b one. My rule is when the market runs away and gives you a future price you should make it a reality (1 trillion market was the 10 year thesis). The short term price run to 1 trillion reached 830b and now the movement to 1 trillion will be a march, not a run. Now is the time to get educated.

2 thoughts on “January Update”

    1. Sorry for the delay. I’m deep in production on a Bitcoin video explainer, I’ll be posting that soon along with a market letter. Since my last post I’ve been in a holding pattern (and added slightly to Bitcoin holdings recently)


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