In the Company of Mavericks: Wealth Management for the Bitcoin Curious with Charlie Morris

Progressive's Jeremy McKeown recently spoke to Charlie Morris, an investor, entrepreneur, and advocate for hard assets.

Charlie has 27 years of experience in fund management, with a reputation for actively managing multi-asset portfolios.

Charlie was previously the Head of Absolute Return at HSBC Global Asset Management, where he managed $3bn of assets.

He writes research for private clients, providing actionable model portfolios that cover equities, bonds, commodities, and other alternative assets.

Having discovered gold in the early 2000s, Charlie was an early entrant into the Bitcoin rabbit hole. In 2013, Charlie founded ByteTree, which he initially intended to be the “Bloomberg for Bitcoin”.

However, he was unable to find a workable revenue model. With start-ups, being early is just another way of being wrong.

In 2022, he launched a Bitcoin and gold ETF (BOLD SW). A fund that remains unauthorised in the UK, albeit available to sophisticated investors on other European exchanges.

As Charlie says, he developed BOLD as a new take on the traditional 60:40 portfolio.

He identified a valuable low level of correlation between its constituents, Bitcoin and gold, which he has exploited to deliver impressive results.

Towards the end of this chat, Jeremy and Charlie trade thoughts on the latest UK microcap craze for Bitcoin treasury companies, which Charlie believes is unsustainable and just the result of regulatory arbitrage.

With that, please enjoy Jeremy's conversation with the maverick, Charlie Morris.