Market Musing of the Week
FRIDAY, MAY 22nd
Paper money will soon be gone according to Elon Musk.
Slowly…then Suddenly
While we’re all still trying to get our bearings in the post-Covid world, mainstream acceptance of crypto assets continues.
 
 
Why does this matter?
Two-and-a-half years ago, Chase CEO Jamie Dimon called Bitcoin a “fraud.”
 
It would appear that he’s changed his mind.
 
And in a Harry Potter meets Tesla moment for Bitcoin…
 
Elon Musk attempted (sadly, unconvincingly) to convince Harry Potter author J.K. Rowling about the value of crypto assets, saying:

“...massive currency issuance by govt. central banks is making Bitcoin Internet money look solid by comparison.”

It’s disappointing Harry Potter isn’t all-in on Bitcoin and crypto-assets yet .

Still, when it comes to understanding technology and high-potential value plays, Musk knows his stuff.
 
And if Musk isn’t enough, there’s always hedge fund legend Paul Tudor Jones , who has nearly 2% of his fund in crypto assets.


Jeremy Epstein
Co-Chief Investment Officer, Crypto Futura Fund
Click here for the Crypto Futura Fund Investor Overview