Invictus Capital: Weekly Wrap 23.07
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Market News
The past week saw Bitcoin break below 30k for the second time in as many months with analysts torn between further downside or imminent upside. The movement was short lived however, with the market buoyed by the recent “B” Word conference where Jack Dorsey, Cathie Wood and Elon Musk spoke on Bitcoin and the future of cryptocurrency — during which Musk confirmed he personally owns Bitcoin (alongside Ethereum and Doge), in addition to the holdings of SpaceX and Tesla. He further admitted that if the trend of positive sustainability continues, Tesla will likely accept Bitcoin again.
In other news, JPMorgan has given its financial advisors permission to give all wealth management clients access to crypto funds, making it the first bank to do so. This shows a significant change of heart in the CEO’s narrative, evolving from his previous 2017 stance in which he stated that employees caught trading Bitcoin would be fired. One can assume a certain network effect to take place now, with all major financial institutions likely to all serve access to the crypto market to their customers. In another positive development for the industry, FTX closed a $900m series B round valuing the exchange at $18bn. The raise, which is the largest in crypto exchange history was led by Coinbase Ventures, Sino Global, Sequoia Capital and the Paul Tudor Jones family.
Despite the Invictus community’s focus on the quarterly report last week — participants in the traditional finance industry were far more concerned about the shock 5.4% YoY CPI reading in the US that briefly conspired to rattle global equity markets. However, the downside was short lived, and most local markets have managed to edge up over the period as Biden this week tried to allay inflation fears and argue the need for massive infrastructure investment. While in the short-term, infrastructure spending would almost certainly be inflationary, to the extent that it drives productivity improvements it could drive deflationary outcomes over the longer term.
Tech monopolies, with an effective license to print money in pandemic conditions, are continuing to thrive as growth fears continue ticking up, with many participants unconvinced by the Fed and US government’s insistence that inflation would not be a long-term problem. Vaccine hesitancy amongst portions of the global population, and the spread of the Delta variant are not helping these outlooks. As a result, longer-term bond yields continue to edge down in a signal of growth worries. While gold spiked initially following the inflation release, prices have cooled off on safe-haven dollar strength, to edge down over the week, along with dollar strength.
Indicators (16 July — 23 July)
- Invictus Margin Lending (IML): $1.26, +4.61% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.11, -1.05%
- Emerging Markets Solar (EMS): $1.27, -0.72%
- Crypto10 Hedged (C10): $5.46, 0.49%
- Crypto20 (C20): $2.56, 0.49%
- Invictus Bitcoin Alpha (IBA): $1.77, -0.93%
- Invictus Hyperion Fund (IHF): $0.471 (Updated Q2–21)
- Invictus Capital Token (ICAP): $7.61, +40.42%
- BTC: $32,338.31, +2.30%
- ETH: $2,024.85, +6.13%
- GOLD: $1,807.63, -1.21%
- S&P500: 4,367.48, +0.17%
SolStreet.finance launches ‘Money Never Sleeps’: A 12-week series of trading competitions
SolStreet.finance, a strategic seed investment of Invictus Capital, has announced ‘Money Never Sleeps’, a 12-week series of trading competitions with approximately $600,000 in STRT tokens up for grabs for investors and fund managers.
Read more here.
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 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.
Read the article here. See the landing page here.
Other News & Links
- Invictus in the Press/News
1. Invictus blog: Invictus Mobile App development
2. Q2–21 Report: If you didn’t see it last week, be sure to check out the latest quarterly report here!
3. Cointelegraph coverage: High-profile asset manager Invictus Capital delivers exceptional results - The B Word: Bitcoin as a tool for economic empowerment
- The Delta variant causes 83% of U.S. COVID cases. See the states where it’s most prevalent
- Syntropy News
1. Syntropy Releases New Gaming Integration for GTA Mod FiveM
2. Syntropy Integrates With Ethereum 2.0 for Improved Node Infrastructure - Why 5.4% inflation isn’t a reason to panic
- FTX Trading hits $18bn valuation with $900m Series B round
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