Invictus Capital: Weekly Wrap 02.07
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June has come to a close and the customary early-month macro data deluge is in full swing, with this week’s positive global PMI readings and expectation-beating US employment data both reassuring investors that the pandemic recovery is still on course — despite signs that COVID-19 mutation risks may still spoil the party. Adding further fuel to the positive narrative seen in markets was the revelation in the Purchasing Managers’ Index data that supply chain disruptions seem to be contributing significantly to high levels of producer price inflation (typically seen as a leading indicator for CPI), which lends credence to the Fed’s insistence that inflationary pressures will be relatively short-lived. This narrative saw equities perform well — with US markets continuing to extend outperformance over the global average. Conditions for gold were balanced, with the metal mostly flat over the week as US bond yields continued the slow downward trend in place since May (adding support) while the dollar strengthened (adding downwards pressure) in anticipation of Friday’s important data releases.
The past month saw Bitcoin suffer, ending down around 6%. Jitters in traditional markets, intensified Chinese regulatory action (including a shutdown of all mining activity), UK’s financial regulator clamping down on Binance, and environmental issues all contributed towards the sell-off. On the topic of Bitcoin environmental sustainability, the Bitcoin Mining Council announced that the Bitcoin mining electricity mix was 56% sustainable in Q2 2021. Furthermore, if Elon Musk is a man of his word, then Tesla will start accepting Bitcoin again following its earlier decision on sustainability grounds to stop accepting it until it is at least 50% renewable. Interestingly, The Techno King of Tesla has finally agreed to discuss Bitcoin publicly with Twitter and Square founder Jack Dorsey on July 21st.
In the institutional space, Coinbase, which ranks as the third largest crypto exchange by daily volume (and dominant in the US market), has gained significant forward momentum in the global industry, receiving approval from Germany for a Bitcoin and crypto custody business as well as now offering additional fiat trading pairs and payment options for institutional customers. More importantly, Germany has released a new law that enables around 4000 existing institutional investment funds to now be eligible to invest in crypto assets. Theoretically, adding up to $422 billion to the crypto market from these funds alone.
Indicators (25 June — 2 July)
- Invictus Margin Lending (IML): $1.26, +9.21% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.09, +0.13%
- Emerging Markets Solar (EMS): $1.28, +0.08%
- Crypto10 Hedged (C10): $5.55, -1.55%
- Crypto20 (C20): $2.84, -1.79%
- Invictus Bitcoin Alpha (IBA): $1.87, -3.37%
- Invictus Hyperion Fund (IHF): $0.248 (Updated Q1–21)
- BTC: $33,592.23, -2.97%
- ETH: $2,115.74, +6.54%
- GOLD: $1,775.55, -0.01%
- S&P500: 4,319.94, +1.25%
Invictus Staking Promotion: Stake Your Invictus Capital Tokens and Stand a Chance to Win $1,000
At Invictus Capital, our goal is to democratize finance and provide investors with advantageous investment opportunities. ICAP is a community token aiming to reward our investors and give back to our community.
In line with this ethos, we are giving away $1,000 to one lucky investor who stakes prior to July 31 11:59 GMT.
Learn more about the promotion and conditions here.
Invictus Enhances Wallet with Innovative Features
Invictus’ mission to offer investors an enhanced investing experience now supports new features to include custom gas fee prices for transactions and cancelling pending Invictus Wallet transactions.
Read more in the blog post here!
Invictus Crypto Vault
Invictus Capital is proud to announce the successful launch of the Invictus Crypto Vault, where investors can earn up to 12% APY on Bitcoin and Ethereum, and 13% APY on Stablecoins.
Our highly competitive interest rates are open to qualifying individuals willing to lend crypto to Invictus for a fixed duration.
Other News & Links
- Invictus in the Press/News
1. HODLing Coins Is One Plan of Action, but Serious Investors Will Look at Marginal Lending [Nasdaq contribution by Invictus analyst Ryan Berelowitz]
- ‘Damn Huge’: Germany opens up to institutional crypto funds
- Syntropy News
1. Syntropy in June: New Website, High Level Team Additions, Bancor listing and more
- Lightstreams News
1. Lightstreams Wallet: Beta Release
- Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2
- Ovex News
1. Ledger Enterprise Solutions Brings Security And Ease-of-Use to Ovex
- Quantfury News
1. Quantfury’s web version is now live at https://trading.quantfury.com
2. June 2021 Spread Revenues: The latest month of Quantfury app spread revenues, $0.0191 in ETH worth of QDT tokens was minted and available for pay and burn per each QTF token, representing an annual run-rate of $0.2292 USD per QTF token
- Dollar hits highest in 3 months as payrolls awaited
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