Wednesday, March 17, 2021

Hedge Fund CIO: "Ethereum Now Races Toward Becoming The Foundation Of A New Global Financial System"


From Eric Peter, CIO Of One River Asset Management, who in November executed a $600 million purchase of bitcoin, then the largest public transaction to date, with the blessing of Brevan Howard's Alan Howard. He has called bitcoin the most interesting macro trade he’s seen in thirty years in the business.

“Okay, so now please explain how these things are going to change the world,” asked the CIO.

He was not referring to the global transition to monetary/fiscal policy coordination which will interact with political, social and geopolitical forces to create a future quite unlike our recent past. We had already discussed that. He was asking about digital assets, blockchain, tokenization.

Virtualization. It is no longer possible to understand what is happening in markets, let alone what is to come, without developing a deep understanding of these things.

“It is not that they are going to change the world,” I said. “It is that they are already quietly changing the world, markets, and beneath the surface the process is accelerating faster than you can imagine.”

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“I feel super lucky,” said an artist who calls himself Beeple, in an online forum, upon learning that bidders lifted his digital collage to $20mm in Christie’s virtual auction. “Everydays – The First 5000 Days” ultimately sold for $69.3mm to an investor who calls himself Metakovan, the founder of Metapurse, a fund that collects non-fungible tokens (NFTs). ... Continue reading >>>

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