Q2 2022 Report - Legacy

Q2 2022 Report - Legacy

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TL;DR (Too Long; Didn’t Read)

  • Bitcoin correlation with the public equity market increased
  • Inflation, portfolios de-risking, and more inflation drove equities down
  • Bitcoin followed this downward trend
  • A handful of prominent institutional players faced liquidity problems due to poor risk management
  • Yield rates have slightly increased

Market Update

Supply Side

The trends from our Q1 update have continued and show no signs of slowing down.  This reinforces our thesis that a significant number of market participants do not care about price, will continue to accumulate regardless of price and will continue to remove coins from circulation.  This same cohort (or a very similar cohort) realizes that depressed prices are an opportunity, representing a long-term bullish outlook.

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