Bitcoin Rally (2017 vs. Today)

Pantera Blockchain Letter, January 2021

BITCOIN HALVING :: STOCK-TO-FLOW PRICE PROJECTION

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“I’m not saying I’d bet our life savings that’s definitely going to happen, but I think it’s possible, and we’re right on pace to do that.”

— Dan Morehead, Fox Business, January 8, 2021

Q: Is the halving priced in?

“I don’t think bitcoin is priced into bitcoin.”

— Jesse Powell, Bitcoin Halving Conference Call, May 12, 2020

BITCOIN HALVING :: BACKGROUND

“Total circulation will be 21,000,000 coins. It’ll be distributed to network nodes when they make blocks, with the amount cut in half every four years. First four years: 10,500,000 coins. Next four years: 5,250,000 coins. Next four years: 2,625,000 coins. Next four years: 1,312,500 coins. Etc. …”

— Satoshi Nakamoto, The Cryptography Mailing List, January 8, 2009

BITCOIN HALVING :: PRICE IMPACT

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BITCOIN HALVING :: STOCK-TO-FLOW PROJECTION

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FUND PERFORMANCE

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PANTERA BITCOIN FUND ADVANTAGES

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THEN & NOW :: 2017 RALLY VS. THIS RALLY

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MOVING ON UP

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WHY ETHEREUM IS UNDERVALUED — BY JOEY KRUG

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BEST-PERFORMING CURRENCY

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BLOCKCHAIN HEDGE FUNDS

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CONFERENCE CALLS

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