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The Evolution of Non-Sovereign Money and Crypto Fund Management
This chapter delves into the concept of non-sovereign money, particularly focusing on Bitcoin as digital gold and the potential for it to reach a market size of $100 trillion. The speakers discuss various theories including the store value hypothesis, the utility hypothesis, and the stablecoin hypothesis, emphasizing the utility hypothesis for significant growth in the crypto space. The chapter also explores the journey of a managing partner of MultiCoin Capital, the complexities of managing a crypto fund, investment strategies, the evolution of the crypto fund management space, and the bear case for crypto investments.