Eric Peters, Founder and CIO of One River Asset Management, is known for orchestrating a historic $600 million Bitcoin purchase. In this discussion, he presents Bitcoin as a fascinating macro investment and foresees its coexistence with government digital currencies. He delves into the evolution of Bitcoin's legitimacy and its emerging institutional infrastructure. Peters discusses the strategic timing for investing in Bitcoin as a hedge against monetary debasement, while also addressing the risks and the growing institutional interest in cryptocurrencies.
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insights INSIGHT
Bitcoin's Resilience
Bitcoin's volatility, with six boom-bust cycles, demonstrates strength, not weakness.
Unlike failing companies, Bitcoin stabilizes and reaches new highs after corrections.
insights INSIGHT
Future of Money
Digital currencies will likely replace physical money in the future, giving governments more power.
The question is whether Bitcoin can coexist with government-backed digital currencies.
insights INSIGHT
Government Control
Governments want digital currency to track transactions, combat illicit activities, and exert more control.
This offers power to confiscate, tax, and manipulate finances, increasing government control.
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Moby-Dick is a novel that tells the story of Captain Ahab's maniacal quest for revenge against Moby Dick, the giant white sperm whale that bit off his leg. Narrated by Ishmael, the story follows the crew of the whaling ship Pequod as they embark on a journey that explores themes of obsession, man vs. nature, and the existential questions of good and evil. The novel is rich in detailed descriptions of whale hunting and life aboard a culturally diverse crew, and it has become a cornerstone of American and world literature[2][3][5].
Eric Peters is the founder and CIO One River Asset Management, where he searches for high conviction strategies coming out of his team’s expertise trading and investing in thematic macro, volatility, systematic, and inflation strategies – each as it turns out, turned his focus on study bitcoin and cryptocurrencies. Eric made news in November when he executed a $600 million purchase of bitcoin, then the largest public transaction to date. He has called bitcoin the most interesting macro trade he’s seen in thirty years in the business, and we kick off this mini series, Crypto for Institutions with his macro case for the digital asset. Our conversation discusses the intrigue of Bitcoin as a form of money, how digital currencies will somewhat ironically increase the power of governments and the likely co-existence of bitcoin with government digital currencies in the future. The then turn to the development of institutional infrastructure for digital assets, Eric’s perspective on bitcoin as an investor and a trader, the reflexive nature of bitcoin supply, and the risks in the asset. Lastly, we discuss the story of Eric’s big trade, the future of bitcoin, and institutional interest in the space. Please enjoy my conversation with Eric Peters in this first of four episodes in the mini-series Crypto for Institutions. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe Monthly Mailing List Read the Transcript
Capital Allocators – Inside the Institutional Investment Industry 