Hi Everyone,
This week, for the first time in 2024, SEC filings have disclosed the Q1 balance sheets of various companies and institutions, revealing significant Bitcoin investments. We'll explore the investment strategies of two prominent examples: Susquehanna Investment Group and Block, a digital payment platform, as they navigate this emerging asset class.
It's crucial to recognize and understand these investment trends as they unfold. While companies like Susquehanna and Block may not (currently) overtly educate the public on their bullish stance on Bitcoin, their financial commitments speak volumes. By observing where these informed investors are allocating their resources, it's clear they see substantial long-term value in this emerging technology.
Bitcoin Price: $61,127.72 (-1.2% past 7 days)
Ethereum Price: $2,927.69 (-5.0% past 7 days)
Solana Price: $147.81 (+3.7% past 7 days)
*as of 12:25pm EST 5/10/24
Susquehanna's Bitcoin Investment Approach
Susquehanna International Group, a leading global trading and technology firm managing approximately $50 billion in assets, has a diversified Bitcoin investment strategy, with holdings exceeding $1.8 billion in Bitcoin ETFs.
Diverse Crypto Holdings: The firm not only holds significant ETF investments but also engages in Bitcoin futures and direct Bitcoin investments.
Strategic Investments: Susquehanna’s deep integration into the crypto sector also includes equity stakes in crypto-related companies.
Significance to WAGMI:
As institutions like Susquehanna enhance their Bitcoin investments following ETF rollouts, we're at the brink of witnessing substantial investment from entities like pension and sovereign wealth funds. With Bitcoin’s fixed supply and growing demand, this expected increase in institutional engagement is poised to significantly boost Bitcoin’s price. This anticipated shift presents an important strategic investment opportunity for WAGMI, allowing us to capitalize on these early developments in the market.
Jack Dorsey's Strategic Bitcoin Play at Block
Jack Dorsey, CEO of Block (formerly Square), which offers financial services and mobile payment solutions, predicts Bitcoin could reach $1 million by 2030. Block is strategically investing in Bitcoin by allocating 10% of its gross profits every month to purchase the cryptocurrency.
Systematic Investment Strategy: Block commits 10% of its gross profits monthly to Bitcoin purchases, leveraging dollar-cost averaging.
Positive Outcomes: This investment approach has already realized significant financial gains for Block (approximately $240 million in profit throughout Q1 2024).
Significance to WAGMI:
While high-profile predictions like those from Jack Dorsey grab headlines, the real value lies in the growing trend of institutional investments in Bitcoin ETFs and products. Block's methodical investment strategy underscores the critical role of institutional engagement. As Bitcoin becomes more widely accepted and understood, we expect this trend to intensify, significantly boosting Bitcoin's value over time and profoundly impacting WAGMI's strategic investments.
Thank you for joining us this week as we explored significant movements in the Bitcoin market. We'll continue to keep you well-informed and ahead of the curve with these pivotal developments.
Enjoy your weekend, and we look forward to delivering more insights next week!
Best regards,
The WAGMI Fund Team
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