Thanksgiving, Bitcoin & Turkey Newsletter #11
Happy Thanksgiving, let's be grateful for being alive, today, for the success, and also for our struggles!
Americans or not, Thanksgiving is a great holiday that should remind us of being grateful for every day on this Earth, our wins, and struggles. I just finished a few days ago my 4th Malta Week (the first one was back in 2018) speaking at AIBC Summit in a panel about "Short profits vs long term success", and at Med Tech Summit in a panel about "How blockchain will affect healthcare until 2025". Well, I am all in for long term success, being ready to pay the price to be able to embark on this journey, but in the same time the short-term profits are needed to build momentum.
More, attended a very nice Investors Breakfast by VNTR Capital, unfortunately, I had to leave early, my speech being in the morning, and met new startups, investors, companies I already serve in the advisory board, and many friends. MetaStudio, the metaverse for content creators was exhibiting in the startup village at AIBC Summit, and it has got a lot of interest from potential investors, and partners.
The mantra of Malta Week is "friends before business" which is not just for marketing, it is a true thing happening at all events orchestrated by Malta Squad. Being a hip-hop fan, the Rick Ross concert at Sky Club was right on my avenue, so besides a lot of work, there was also a lot of fun.
And because today was Thanksgiving, let's look at the price of #bitcoin on Thanksgiving
Today: $16,555
2021: $56,280
2020: $19,107
2019: $7,048
2018: $3,881
2017: $8,254
2016: $740
2015: $320
2014: $377
2013: $774
2012: $12
2011: $2
2010: $0.28
2009: $0
2008: $0
"At the end of the day, one bitcoin is still worth one bitcoin. And let's not forget, it’s still worth five times what it was worth in March 2020, and 50x what it was worth on Thanksgiving of 2015 (not to mention more than 1000x over its value in early 2013). What this means is not the death of crypto: far from it. In the week following the FTX collapse, more than 100,000 BTC (over $1.6 billion) moved off centralized exchanges and into wallets with less than 10 BTC (including many with less than 1 BTC). Congratulations, small investors, you have now inoculated yourself from future Wall Street shenanigans. As the bitcoin OGs remind us: not your keys, not your coins." I am quoting here Michael Terpin from Transform Group.
Funding to VC-backed #Web3 startups, as well as the number of deals, dropped to its lowest since the end of 2020 ⬇️
1. The recently completed quarter only saw slightly more than $3.3 billion roll into startups in the space — nearly a 50% decrease from the previous quarter.
2. Deal flow also dwindled in the third quarter, with only 408 deals announced. That’s more than 200 fewer deals from both Q4 2021 and this year’s Q1.
3. Thus far this year in total, investors have poured $17.7 billion into Web3 — well off pace to reach last year’s record $30 billion.
4. Andreessen Horowitz’s flagship cryptocurrency fund lost 40% in value in the first half of the year, according to people familiar with the matter. According to Crunchbase data, the firm — which has been one of crypto’s and Web3’s biggest supporters — has slowed its investment cadence in crypto and blockchain in recent quarters.
It is important to remember nearly all tech sectors have witnessed something similar with the number of big rounds falling drastically. That likely has affected Web3 funding more than some other areas, as much of the technology is relatively new and many investors are not nearly as acclimated to it as they are to other industries. Source: Crunchbase
Just as a personal conclusion over the Celsius, Voyager, FTX, and other dramas which were all somehow inside jobs due to mismanagement of the client's funds, in Web 3.0, there are so many things out of our control. As investors, even at the retail level, I believe that no matter how great things are, diversification between asset classes ( At the personal level, I am 30% in crypto, 30% in stocks - both listed companies, and equity in not listed startups, 30% in real estate, and 10% others), and also diversification in crypto (I do 40% top 10, 40% top 100% - 5 - 10 projects, not using just one platform, and 20% high risk, high reward) are essential to navigate the tumultuous Web 3.0 waters.
Last week during Malta Week, while I struggled a little bit with my voice :), created a masterclass about Investments in Web 3.0 highlighting some of the learnings after 6 years of involvement in projects, and investments in this space. Not investment advice, just sharing my own experience, I trust that it will be helpful.
The Masterclass serves also as the introduction to the new Mastermind Group I was started about How to Invest in Web 3.0, which I believe is one of the best investments in yourself you can make this Black Friday, which will serve as the GPS in 2023, and potentially beyond in this market. You can get all the details towards the end of the video, including how to apply.
If you like what you are reading, there are few ways you can support my work:
Becoming a premium subscriber of
Joining my charity projects by donating crypto - BTC donations to 18hgJ4A3KakhXrWvnyU7w5tjYLsDaU59AV address, ETH, BNB, MATIC & tokens on these networks to 0xaA18eC3ED598ecebD066e8054312201165fd3271 address.
Sharing my content with your friends, family, and colleagues via e-mail & social media.
If I can help you as a coach, trainer, mentor, or advisor, please schedule a free no-obligation call with me by taking one of the limited seats here: https://calendly.com/adrianniculescu
All success, Adrian Niculescu