The Role of Bitcoin as a Diversifier (April 2024 Update)

We have argued in the past that Bitcoin can play an important role as a diversifier in a portfolio of “traditional” assets. Back in 2020, we shared evidence with our investors supporting that idea. A year later we decided to communicate a shorter version of that research with the wider public (https://www.tyr.capital/the–role–of–bitcoin–as–a–diversifier–in–a–traditional–portfolio ) and in […]

The Role of Bitcoin as a Diversifier (2022 Update)

We have said in the past that BTC can play a role in a portfolio of “traditional” assets as an effective diversifier of performance. Back in 2020 we looked at market data from Q3 2016 to Q3 2020 and put together a presentation which we shared with our investors at the time.

TYR Capital Partners Arbitrage and Crypto “In Kind” Subscriptions

As Crypto becomes a more accessible/mainstream asset class an increasing number of market participants find themselves with a significant number of crypto inventory in their portfolios. TYR Capital Partners has identified three main actors with such allocations: Crypto Exchanges that hold an inventory of cryptocurrencies as part of their treasury. This inventory is often quite substantial […]

The Role of Bitcoin as a Diversifier in a Traditional Portfolio

It appears that Bitcoin has been a good diversifier in a traditional portfolio. We believe that effect will likely continue because Cryptocurrencies are still nascent and we think there is a lot of room before the technology becomes mainstream and the asset class widely attractive to institutional investors and society at large.  An investor who […]

The Grayscale GBTC Premium

On the 8th of January 2021 in a note distributed to clients titled “Flows & Liquidity” J.P.Morgan published the following view: “The approval of a bitcoin ETF in the US this year would likely be negative for bitcoin in the near term”. Their main premises are as follows: There is optimism around the prospect of […]

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