Invictus Capital: Weekly Wrap 25.06
The weekly wrap can be delivered to your inbox at the end of each week by subscribing to the Invictus Capital newsletter at the bottom of the homepage
Market News
Traditional markets latched onto the week’s positive news stories to see the bearish narrative of last week pivot, with the S&P500 up for the week and once again breaching all-time highs. The Tuesday Congressional testimony from Fed Chairman Powell that downplayed the inflationary risks faced by the US economy, combined with positive signs for the passage of a bipartisan US infrastructure stimulus bill provided markets a glimmer of hope. This was despite the continued rapid global spread of the COVID-19 Delta variant (and emergence of an even more dangerous Delta Plus variant in India) which risks delaying reopenings, and is jolting governments’ vaccination efforts into a higher gear.
With the newsflow largely positive, it was somewhat strange to see the yield curve flatten with shorter-term yields rising and longer-term yields largely flat. Flattening is typically associated with a more bearish outlook for economic growth, but can be explained by market fears that the strength of the recovery would prompt monetary tightening ahead of schedule. The move was muted as the market weighed this outcome up against the prospects that inflation truly would be transitory, easing as supply bottlenecks and base effects dissipate — as the Fed continues to assert. The dollar edged down, with gold mirroring these moves to the upside and looking poised to reclaim the $1,800 level.
It has been yet another week of volatility for Bitcoin, as the largest digital asset hit a new five-month low of $28.4k Tuesday. The drop in price was due in part to China’s intensifying clampdown on crypto as it ordered banks and financial institutions to stop facilitating crypto transactions, and forced miners to shut down. Despite price volatility, the cryptoasset market continues to attract more private equity interest as venture capital firm Andreessen Horowitz announced it has raised $2.2 billion for their third crypto fund. This is the world’s largest blockchain-focused VC fund to date, illustrating that investors remain bullish on the sector, despite the volatility currently on display.
On the national front, El Salvador finally announced that BTC will officially become legal tender effective 7 September. Furthermore, each citizen is entitled to receive $30 worth of Bitcoin — airdropped straight into their wallet when they sign up. With a population of around 6.4 million citizens, President Bukele is undertaking to pay out up to $192 million in Bitcoin. Relatedly, Congressman Carlitos Rejala introduced the Paraguayan Bitcoin bill to follow in El Salvador’s footsteps and legislate bitcoin as a legal tender. In positive news for the sustainability credentials of Bitcoin, the country intends to use their excess hydroelectric energy to carry the Bitcoin mining burden.
Indicators (18 — 25 June)
- Invictus Margin Lending (IML): $1.25, +4.07% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.10, +0.07%
- Emerging Markets Solar (EMS): $1.28, +0.07%
- Crypto10 Hedged (C10): $5.64, -4.72%
- Crypto20 (C20): $2.90, -16.33%
- Invictus Bitcoin Alpha (IBA): $1.94, -9.29%
- Invictus Hyperion Fund (IHF): $0.248 (Updated Q1–21)
- BTC: $34,619.93, -9.07%
- ETH: $1,985.94, -16.32%
- GOLD: $1,775.80, -0.05%
- S&P500: 4,266.49, +1.06%
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. The Invictus Crypto Vault now offers an 18-month lock-up option with increased APY! Visit here to learn more. - El Salvador Airdrops $30 for Bitcoin Handout, BTC Will Become Legal Tender in September
- Syntropy News
1. The importance of integrations
2. NOIA is now available on Bancor - Explainer: What is the Delta Variant of Coronavirus with K417N Mutation?
- Ovex News
1. Launch of referral program for OVEX Arbitrage - Venture Giant Andreessen Horowitz Triples Down On Crypto With New $2.2 Billion Fund
Interested in Invictus Capital? Investing is possible after signing up and completing account verification
You can also reach out to info@invictuscapital.com anytime
