This CEO is looking for the next Bitcoin fund manager

adminMay 31, 2024

“I’m sorry, but there’s nothing more I can do to help you.”

Samara Asset Group (FRA: ECV) CEO Patrick Lowry used a few choice words to describe how much opportunity, and perhaps myopia, exists in the financial world when it comes to Bitcoin.

Recently on Twitter Spaces, Lowry laid out his vision for a future financial system that leverages the Bitcoin network at all levels. From acting as a store of value as “digital gold” to becoming “the source of global financial commerce in trade, currency, and capital markets,” the opportunities are endless.

Lowry believes Bitcoin could become “something Satoshi imagined, infinitely more valuable than the Bitcoin community thinks.” Nonetheless, in his view, capital allocators are missing the boat, which he likens to a horse being dragged to shore. For CEO Samara, this is better for those willing to take the plunge.

MicroStrategy copycat product is coming

Lowry, who spent his career working in the Bitcoin space in digital assets, first at Deutsche Digital Assets and then at Cryptology (which later became Samara Asset Group), expressed the view that Bitcoin is particularly poised for a renaissance.

Mainly, he believes MicroStrategy is just the first of many imitators to come, and likened Malta-based Samara Asset Group to one such company. “In (Samara) we have been acquiring as many Bitcoins as humanly possible over the past few years.” He believes that FASB’s recent changes to fair value accounting rules have a larger impact than most in the market acknowledge for companies that want to follow them. “Better than the Bitcoin ETF.”

Joining the conversation is Dylan LeClair. Bitcoin Magazine A similar view was expressed by Metaplanet (TYO: 3350), head of Bitcoin strategy and director. LeClair and Japan-based Metaplanet broke ground as the first stock to act as a Bitcoin proxy in the Japanese market, giving investors exposure to Bitcoin despite an unfavorable legal and tax environment for holding Bitcoin itself. We have provided you with the means to receive it.

LeClair believes that Metaplanet and MicroStrategy will not be the only ones adopting the Bitcoin strategy, and that those who get started first will benefit the most. “First movers are peripheral people and institutions with deep convictions. And I think that’s the advantage.”

LeClair praised recent announcements by companies like Jack Dorsey’s Block, which revealed plans to invest 10% of the company’s gross profits in Bitcoin. Soon after, CEO Block predicted that by the end of the decade, Bitcoin would be worth “at least $1 million.”

Alpha is ready to get your hands on it

For Lowry, it’s not just the fact that Bitcoin’s value could rise, but also the fact that many companies that were in a position to increase its value went down completely in the bear market of 2022 and 2023. “The market has completely disappeared. . It could be higher than 90%, or it could be that 95% of cryptocurrency managers have been wiped out.” In other words, the playing field is wide open due to the GBTC arbitrage fiasco that brought down the cryptocurrency card house.

Samara Alpha Management, the US-based subsidiary of Samara Asset Group, is working to fill a gap in the market through the Bitcoin Alpha Competition in collaboration with: Bitcoin Magazine Pro. As part of Bitcoin 2024’s Pitch Day in Nashville, the competition seeks to award $1 million in seed capital to emerging Bitcoin fund managers while also providing them with the infrastructure needed to launch their funds.

*click* *here* *Apply to the Bitcoin Alpha competition hosted by Samara Alpha Management for a chance to win USD 1 million in seed funding. Application Deadline: June 7, 2024*

In the first Bitcoin Alpha competition of 2023, Animus Technologies Inc. was selected for its strategy of leveraging artificial intelligence to analyze and capitalize on changes in market sentiment. Animus CEO Maximilian Pace said the seed capital and Samara’s operational infrastructure will allow his company “to focus on what we do best: signal formation and value creation through research.”

Lowry sees the globally distributed hivemind of talented digital asset traders like Animus as an untapped resource. “We have some of the smartest and most talented managers in the cryptocurrency industry who only manage a few assets, either through SMAs or, frankly, Twitter. These are groups and individuals and we want to empower them by giving them the opportunity to have their own funds.

But these individuals don’t want to spend $250,000 or $500,000 to become their own wealth manager. This group doesn’t know how to manage risk and they don’t know how to manage auditors. They may not even know in which jurisdiction they should set up a general partnership or LP… That’s (why) we launched the Bitcoin Alpha competition last year… (And now) we are very excited to see which managers will emerge from this competition. Bitcoin Nashville in July.”