Key Insight from Bitcoin for Institutions: 1. Ordinary bitcoin holders outperformed every professional fund - fund managers who ignored bitcoin have explaining to do. Chapter: Mutual Funds / ETFs - Wielding the Blade
""Guitar, piano, drums, horns, and you've got to know how they all come together. You also need to learn music theory, how to conduct an orchestra, and understand why music exists in the first place."" β€” Brian Hirschfield From: Bitcoin Requires More Patience and Time than Institutions Have
Key Insight from Bitcoin for Institutions: 2. Bitcoin is the most powerful bearer asset ever created β€”non-physical, easy to validate, and impossible to seize without consent. Chapter: Bitcoin is a Bearer Asset
Key Insight from Bitcoin for Institutions: 3. Fiduciary risk is shifting - the greater liability may now be from NOT including bitcoin rather than including it. Chapter: Mutual Funds / ETFs - Wielding the Blade
Asymmetric Bet If bitcoin appreciates 30%+ annually (as history suggests), the cost of borrowing is negligible by comparison. From: Bitcoin for Institutions