One of the most interesting little details of the Paul Tudor Jones letter no one is talking about is the co-author of the paper: Lorenzo Giorgianni. Details matter & this is why it's as important as the investment itself. So who is Lorenzo Giorgianni? Looking at his Linkedin:
"Prior to joining Tudor Investments in 2013, Lorenzo held several senior positions at the International Monetary Fund in Washington, DC (1996-2013),where he took a leadership role in the IMF’s efforts to revamp the international financial architecture & resolve financial crises.
He has been directly involved in managing financial crises in Asia, Argentina, Turkey and the Euro Area. Lorenzo has published academic research in refereed journals & authored numerous IMF reports on the international financial architecture, including the role of IMF lending,
global capital flows, sovereign debt restructuring and bank rescue operations. He also authored several IMF country reports."
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So why is this is little detail so important? Lorenzo Giorgianni is NOT some crypto insider, kid or cypher punk recommending #Bitcoin to his boss.
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So why is this is little detail so important? Lorenzo Giorgianni is NOT some crypto insider, kid or cypher punk recommending #Bitcoin to his boss.
While PJT is an investing legend, Lorenzo Giorgianni is an accomplished former Senior Leader at the IMF who spent his entire career prior to Tudor at the highest levels of Global banking.
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To me, this signals a massive seminal moment of legitimacy that can not be understated.
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To me, this signals a massive seminal moment of legitimacy that can not be understated.
If you haven't had an opportunity to read the Tudor letter in its entirety I highly recommend reading their investment case for Bitcoin. While its not much different then the Get Off Zero: Case for #Bitcoin we've published and present to clients at @AssetInvestment, it offered
the following two nuggets that I couldn't help but smile at when reading:
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1) "So that was the flavor behind some of the discussions that were had when scoring the suitability of each asset as a store of value. What was surprising to me was not that Bitcoin came in last, but..
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1) "So that was the flavor behind some of the discussions that were had when scoring the suitability of each asset as a store of value. What was surprising to me was not that Bitcoin came in last, but..
that it scored as high as it did. Bitcoin had an overall score nearly 60% of that of financial assets but has a market cap that is 1/1200th of that. It scores 66% of gold as a store of value, but has a market cap that is 1/60th of gold’s outstanding value.........
...."Something appears wrong here and my guess is it's the price of #BITCOIN".
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All of us #Bitcoiners know this and even make this argument ourselves, but sometimes is not the message but the messenger. The way he articulates this point is so simple it just makes sense.
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All of us #Bitcoiners know this and even make this argument ourselves, but sometimes is not the message but the messenger. The way he articulates this point is so simple it just makes sense.
2) "The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by COVID-19. Bull markets are built on ever-expanding universe of buyers. Central to the price of Bitcoin is how many more (or less) owners of Bitcoin will there be
beyond the 60 million who currently own it? The probable introduction of Facebook’s Libra (whose value will be pegged to the US dollar and will not be a store of value in that sense) as well as China’s DCEP, also tied to the yuan, will make virtual digital wallets a commonplace
tool for the world. It will make the understanding, utility, and ease of ownership of Bitcoin a much more commonplace option than it is today"
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TLDR: the herd is coming.
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TLDR: the herd is coming.
Last, "I am not an advocate of Bitcoin ownership in isolation, but do recognize its potential in a period when we have the most unorthodox economic policies in modern history. So, we need to adapt our investment strategy."
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TLDR: You're fcking god damn right we do.
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TLDR: You're fcking god damn right we do.
In conclusion, all I can say is, we did it FAM....
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The phone calls, texts, inquiries, market chatter, whispers and conversations that I'm seeing and hearing are evident that yesterday will go down as a pivotal moment for #bitcoin legitimacy and mainstream adoption.
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The phone calls, texts, inquiries, market chatter, whispers and conversations that I'm seeing and hearing are evident that yesterday will go down as a pivotal moment for #bitcoin legitimacy and mainstream adoption.
If you or anyone you know is looking to Get Off Zero with #Bitcoin, we would love to help you at @AssetInvestment We are a licensed Registered Investment Advisor for Bitcoin and Digital Assets. We can invest #Bitcoin and Digital Assets in your 401k, IRA or cash brokerage account.
We offer Cold Storage custody w/ @Gemini & our fees are equivalent to a single trade at Coinbase. We can work w/ you individually or in a partnership w/ your existing Advisor & everything we do is properly licensed & regulated. Get in contact w/ us here: daim.io/contact
