Hunter Horsley
@HHorsley
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CEO @BitwiseInvest ($10B+ client assets). 7 years in crypto. Formerly Facebook, Instagram & Wharton. Husband, father, & caretaker of Winnie the beagle.
Joined March 2009
Working in crypto is an incredible, never-ending education in how far the pendulum can swing
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We just provided some information for a nation state asking about Bitcoin ETFs. Considering moving some exposure from foreign currency govt bonds into BTC. Bitcoin is entering a new chapter —.
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Huge moment —. Charles Schwab CEO: "I have not bought crypto, and now I feel silly.". "We will get into spot crypto". Sign of the times, and the new chapter we're entering: the mainstream chapter.
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Almost 100% of my close friends under the age of 35 in San Francisco have left. Over a dozen people. Astonishing to reflect on. Few things are ever this binary.
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An Wealth Management Firm in New York just made a 1% allocation to Ethereum across clients via Bitwise ETPs. No other crypto exposure. 100% ETH.
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Milestones:. $102,000 per Bitcoin = crosses $2T market cap. $179,000 per BTC = crosses Apple market cap. $800,000 per BTC = crosses gold.
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Bitcoin is going to eat into gold's TAM faster than people expect. $250k Bitcoin could happen much sooner than most who've followed the space for years would imagine. Why? For 15 years, Bitcoin proved it's merits but was only accessible to some. Bitcoin ETFs were Bitcoin's.
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Spoke with a nation's sovereign wealth fund who's mining Bitcoin. Probably nothing.
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You're a nation that doesn't trust the U.S. right now. You want to store value in something other than U.S. assets. But you don't want to own other nations' currencies/debt/assets because they're even weaker and you expect they'll debase it. So you could buy gold. But how.
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Today we filed an S-1 for a Bitwise XRP ETP!. For more than a decade, XRP has been an enduring crypto asset that many investors want exposure to. Over the past 6+ years we’ve worked to pioneer investment vehicles that provide access to the emerging opportunities in the space.
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David and Craft invested in Bitwise’s seed round in 2017. Over two months ago, David informed me they had to divest from Bitwise. We worked with David and the Craft team to coordinate and complete a sale of David’s Bitwise 10 holdings and Craft’s equity stake in our company.
I sold Multicoin too. I didn’t even have to at that point in time because the ethics process was still underway. But I took it upon myself to sell all my cryptocurrency and my crypto-focused funds. I suggest you wait for all the facts before making baseless and hysterical smears.
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Early inflationary cycle: everyone benefits, no one pays. Late inflationary cycle: everyone pays, no one benefits. Has happened many times in the last century. Unlikely to be different this time.
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The man co-running the Trump/Vance transition team.
“I have hundreds and hundreds of millions of dollars of exposure to Bitcoin…and it will be billions.” — @howardlutnick CEO of Cantor Fitzgerald
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Stimulus incoming. Bitcoin’s role in the world has never been more relevant.
JUST IN: 🇨🇳 China's stock market suffers worst single-day crash since 2008.
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My wife and I welcomed Wendy Horsley to the world this month. Feeling grateful
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My wife and I are expecting a baby girl in September, our first, and I’m so fired up for it.
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When Bitcoin is at $200k —. We will look back on March 2025 and say, how was everyone not buying. It was so obvious.
Bo Hines, Executive Director of the 🇺🇸 President's Council of Advisers on Digital Assets: "We want as much Bitcoin as we can get."
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BlackRock CIO: . "A few years ago we thought private permissioned blockchains would lead. We now realize public blockchains are better". This used to be a debate. Quietly, the debate has been settled: permissionless.
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There is an eerie overlap between people who have been advocating for crypto the last few years, and people who were early in recognizing COVID-19 and advocating for it being taken seriously. Can't quite put my finger on why though.
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$6B+ wealth management firm just let us know they selected the Bitwise Bitcoin ETF ( $BITB ) after several weeks of diligence. Setting up a call with all their advisors soon. 2024 is a new chapter for adoption for Bitcoin. Fired up. [BITB disclosures & prospectus:.
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Over $200,000,000 into the Bitwise Bitcoin ETF $BITB today. Today is the largest single day inflow since BITB launched over a year ago. Thank you to all those who invest with us and tell others about Bitwise. We're striving to build a firm that can be a good steward of the.
In a few weeks, Bitwise will be making it's first donation for 2024. Stay tuned. Thanks to investors using BITB, glad to be able to contribute to healthy open source development of Bitcoin —.
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Bitcoin sold off on Bitcoin ETFs launching . And then went on to a new ATH . Traders gonna trade.
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Bitcoin at $94k, yet —. Google searches for "Bitcoin" near long term lows. This hasn't been retail driven. Institutions, advisors, corporates, and nations have come into the space. The types of investors buying Bitcoin is expanding.
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That feeling when you own a lot of Bitcoin —. But feel like you should own more Bitcoin.
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It’s true. He said this —.
JUST IN: $10 billion Bitwise CEO says this year we are going to see “more nation states buying” #Bitcoin . Gradually, Then Suddenly 🙌
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$126,500,000 of inflows into the Bitwise Bitcoin ETF ( $BITB) today. 2nd largest day since launch. Grateful to investors entrusting Bitwise to steward their investment. Excited about 2024 for Bitcoin investors. [BITB prospectus & disclosures: .
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If $93,000 makes you worried about Bitcoin. Bitcoin might not be for you.
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There are only ~1,350,000 Bitcoin left to be mined — over the next ~100 years. That means most of the new demand has to convince existing holders to part ways with theirs. The scarcity of Bitcoin is really starting to feel palpable.
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There's simply not going to be enough Bitcoin for everyone to have 1.
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Crypto sits at the intersection of 3 mega trends:. 1. Financial: rise of alts, decline of 60/40. 2. Tech: software eating old industries, proliferation of open source. 3. Social/organizational: declining trust in govt & private institutions, concern over privacy. Giant tailwinds.
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The greatest wealth transfer program in the world right now isn't a tax or welfare program —. It's Bitcoin. Unlike most financial assets, Bitcoin isn't primarily owned by the legacy elite, as many pristine assets are. Rather, it's owned by the curious, the open minded, the
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Bitwise bought $42,000,000 more Bitcoin on behalf of investors today. Keep calm, carry on. We're entering a great chapter for Bitcoin.
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HUGELY bullish dynamics for Bitcoin right now:. - BTC flat during HISTORIC risk-off days in markets. - 72% on Coinbase buying. - The Halvening is 50 days away. - Billions in buys coming when levered longs return. - And if 1% of >$2T+ of stimulus finds its way to Bitcoin. .
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In hindsight, people are going to say —. Bitcoin was so obvious. I don’t know how I missed it.
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From a Bitwise relationship manager: . "A lot of the advisors we support at banks and broker dealers are complaining they don't have access to the Bitcoin ETF yet. They want it." . A huge unlock is coming.
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~165,000 new bitcoin will be mined this year. In Q1 alone, public companies alone, bought 95,000 bitcoin. There's simply not going to be enough bitcoin.
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What's the current best argument for why Bitcoin isn't going to be widely adopted and go to $1M? . I see more and more evidence of why it will, and less and less of why it won't.
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There are two types of Bitcoin owners these days:. A. People who see Bitcoin as an investment, measured in $$. B. People who see Bitcoin as a savings account, measured in how much BTC you have.
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People are wildly underestimating the massive leaps Bitcoin is going to take into the mainstream this year. Never been more optimistic.
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I don’t know if people appreciate how significant this is. Gold is having its moment. And despite that, investors are buying more Bitcoin than gold. Now imagine when it’s flipped.
IBIT flips GLD (gold ETF) on year to date flows even after gold’s unreal performance. Wall Street can’t get enough of Bitcoin.
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A key way Bitcoin is different than equities: reflexivity. When a stock goes up, the multiple does up. At a certain point, people say, "this is over valued" and become less interested until the price goes down. Bitcoin is different. When Bitcoin's price goes up, people view it.
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This is a tectonic shift:. "I want to own zero fixed income. I probably have some basket of gold, bitcoin, commodities and Nasdaq.". The US fixed income market is ~$50T. If just a small portion of the market agrees, trillions will be leaving fixed income and looking for a new.
JUST IN: 🇺🇸 Billionaire investor Paul Tudor Jones says, “All roads lead to inflation. I’m long gold. I’m long #Bitcoin”
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Today is a historic day. Morgan Stanley is among the pre-eminent wealth management firms globally. Today, they announced that wealth managers can recommend clients own Bitcoin ETPs. They did the homework. They decided it's important. The train is leaving the station.
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What is the argument for why Bitcoin is *not* going to $200k this year.
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Excited to share that the Bitwise Bitcoin ETF ( $BITB) has been approved on another exceptional wealth management platform ($100B+ AUM). Firms are quietly working to provide their advisors and clients with access. We love working with them. Bitcoin ETFs have changed the game.
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The President has decided to reject a bill, passed by the majority of US lawmakers in both the house and senate. Does he think he represents the people’s interest better than those elected to make laws? . Disappointing. But this too shall be overcome.
BREAKING: 🇺🇸 President Biden vetoes bill that would allow highly regulated financial firms to custody #Bitcoin and crypto.
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+$61,000,000 approx inflow into $BITB today. Over $130,000,000 of volume. This is the 7th largest day of inflows since inception. Grateful to investors for entrusting Bitwise to manage their Bitcoin, and empowering us to be an industry native voice on behalf of the space.
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There are estimated 58 million millionaires globally. There’s only enough Bitcoin for ~ 1 in 3 of them to have one. The scarcity of Bitcoin is going to start to feel dramatic as it enters the mainstream.
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A $40B Multi-Family Office / Institutional Consultant just selected the Bitwise Bitcoin ETF ( $BITB ) for clients after months of diligence. Grateful, and incredibly excited about access to Bitcoin opening up in 2024.
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Today is a historic day. It's bigger than SAB 121 itself. It's a day that delivered a clear message: US lawmakers want to foster sensible development of crypto in the US. Not some lawmakers. The majority. 2024 is the beginning of the mainstream era.
SAB 121 CRA —first standalone crypto bill ever to pass both chambers of Congress—SAILS through the Senate 60-38. Dems voting for CRA/against WH & SEC:.**Schumer**.Gillibrand.Hickenlooper.Peters.Tester.Sinema.Rosen.Kelly .Casey.Booker.Lujan.Wyden. (Biden still expected to veto)
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In 2017, people wished they'd invested in crypto in 2015. In 2021, people wished they'd invested in 2018. Everyone admires those who invested pre 2014, and held through the Mt Gox collapse. Now, it's the start of the next cycle, and. people wondering if it's better to wait
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Congratulations to the crypto-class of 2022. You have all now graduated to veteran status.
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The April 2024 Bitcoin halving may be the most impactful we’ve seen. Why?. The last Bitcoin halving, 2020, Bitcoin was at ~$9,000. So the supply reduction in $ terms was ~$9M a day, and ~$3B a year. This halving with Bitcoin ~$70,000, it will be >3x greater in $ terms: ~$32M a.
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I’m so tired of these ridiculous crypto journeys - meteoric rise from obscurity only to burn to ash. Crypto companies don’t have to be recklessly run - Coinbase, Circle, Anchorage, Bitwise, many others have been bringing professionalism for years. Let’s do better.
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$37,000,000 inflows from investors into $BITB today. 681.5 BTC purchased. The Bitwise PM team executed with incredible efficiency: 1.5bps of trading cost. Grateful to investors for entrusting Bitwise to steward their assets in the space. [BITB disclosures & prospectus:.
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Caught up with a Bitwise relationship manager, who told me that in the last few days, 3 RIAs managing $100M-$2B in AUM each, across 100s of families, decided:. 1. 2% allocation to Bitcoin proposed to all clients.2. 3-10% allocation made by discretion to all.2. 2.5% allocation to.
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$90,000,000 inflows into $BITB today. The Bitwise Bitcoin ETF is now >$1,800,000,000 AUM. Thanks to investors in BITB, that's also $1.8B supporting open source development, through our commitment to donate 10% of gross profits (see below). As ever, grateful to investors for.
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If you own Bitcoin, you've got a lot of people working for you —. 10s of millions of people, introducing friends and colleagues to it, educating. 100s of companies building integrations, services, access, capabilities. All of that work, to advance the asset you own. It's nice.
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Family office last week:. "I guess it's time we get off zero.". Sign of the times.
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~$50,000,000 inflow into $BITB today. ~$170,000,000 inflow into $BITB last week. By choosing BITB, the investors of this $200M+ are also contributing to the health of the Bitcoin ecosystem through BITB's 10% profit donation to open source development via @OpenSats.
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Two convos with >$1B AUM crypto fund managers in the past week that think good chance that coming out of this bear market ETH flips BTC.
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Bitcoin is at $104,000. No one is surprised. It’s not a news headline. That’s how inevitable it is these days.
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Second state in two weeks. Not a fickle decision. A law. Bitcoin is entering the mainstream —.
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Today the Bitwise Bitcoin ETF ($BITB) took in another $68,000,000 and bought Bitcoin. Now $370M total inflows over 4 days. Grateful to investors for entrusting us to steward their assets in the space. [View BITB disclosures & prospectus: .
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It’s hard to pick the perfect time to buy Bitcoin. Yesterday is a reminder. A fantastic analysis by @fundstrat below illustrates this. TLDR: if you miss the 10 best days of Bitcoins return each year, you miss all the return. And you don’t know when those days will be.
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I’m getting that perennial feeling again —. I might not own enough Bitcoin.
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$42,000,000 inflows into $BITB today. ~$100,000,000 of trading volume. $128,000,000 total new inflows this week. Bitcoin efficiently purchased. Total AUM now over $1,500,000,000. Grateful to investors for entrusting Bitwise. Excited to see the space entering the mainstream.
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Hard as it is to imagine — I think we will look back on today as the setting of the stage for an incredible bull run in bitcoin. As rates come down and recession fears loom, a lot of dollars parked in equities and fixed income will be looking for a new home.
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BITB was selected and approved for full access to advisors at a $30B nation-wide RIA on Friday, one of the largest in the country. Excited to be a partner to advisors as they navigate the space. [BITB disclosures & prospectus: .
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This year you're going to see:. 1. More flows into ETFs. 2. More corporates buying more Bitcoin. 3. More nation states buying more Bitcoin. 4. US Wealth Management buying for clients. 5. Banks and FIs launching services to help clients access Bitcoin. 6. Regulators creating.
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Seeing a ton of demand from advisors. They’ve got a lot to juggle. Give them some time. Bitcoin ETF is not a 2 day journey. Exciting.
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That feeling when you already own a lot of Bitcoin . But want to buy more Bitcoin.
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Rant —. People are sleeping on Coinbase. Big banks like GS are working to avoid slow death by getting into technology, APIs (Apple deal), more retail services (Marcus), while grappling with the heft of legacy biz, rate exposure, and unbundling. Meanwhile Coinbase already is.
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I think people are dramatically underestimating the halving. The market has never priced it in before, and won't have priced it in this time. For the prior 3 halvings, after investors spent months discussing if it was priced in, here's what happened in the 12-months after.
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Today the Bitwise Bitcoin ETF, $BITB, crossed $700,000,000 of bitcoin AUM after 19 days of trading. Proud of this product:.- Trading efficiently with 1 penny spreads.- Low cost at 0.20%.- Donates 10% of profits to open source BTC development: as BITB grows, funding for the
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I think 2025 is going to be the year. The year people realize everyone owns Bitcoin.
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There's not going to be enough bitcoin for everyone who's going to want one. Obvious, but remarkable to pause and contemplate.
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Met with head of wealth management at one of the largest platforms in the US today – he had longstanding concerns about Bitcoin. Afterward he bought $BITB. The joy of businesses is being useful to clients. No greater pleasure at Bitwise than being worthwhile for smart but busy.
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There's just not going to be enough Bitcoin for everyone.
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+$56,000,000 of inflows into BITB today. The Bitwise portfolio management team delivered stellar execution, to the benefit of clients: $56M bitcoin bought with 0.01% of cost. Total flows now $446,000,000 over the first 6 days. Every day the same emotion, gratitude to the.
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Inflows again today +$21,000,000. Imagine twitter is getting sick of my routine posts, but just know we're hard at work and appreciative of every dollar investors entrust to us. We're here for the long run. Onward —.
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Bitcoin is here to improve the system, not conform to the ways of the past. This is why we're proud that the Bitwise Bitcoin ETF ( $BITB ) publishes the public wallet addresses of its holdings for investors to see (and is the only US ETP to do so). Unlike gold at Fort Knox, the
Who is confirming that gold wasn’t stolen from Fort Knox? . Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there.
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First they said it's only crazy internet people that own Bitcoin. Then they said it's only retail that owns bitcoin. Now they see over 500 massive wealth firms, banks, & institutional investors bought Bitcoin in the first 2.5 months of ETFs. I wonder what they will say next.
Who’s Buying Bitcoin ETFs (According to 13F Filings). Three takeaways from Bitwise CIO @Matt_Hougan's weekly memo to investors. Takeaway 1: Lots of Professional Firms Own Bitcoin ETFs. 563 professional investment firms reported owning $3.5 billion worth of bitcoin ETFs as of
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Zero phone calls from clients so far. Know your game. If you're a trader, trade. If you're buy-and-hold, buy and hold. Nothing changed about the thesis for Bitcoin & crypto today. In fact, one can imagine the moves ahead now that will be even better for the assets.
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Wondering if $60,000 is a high price for Bitcoin?. Consider that in the last two days investors bought over $1B through Bitcoin ETFs with that as their starting point cost basis on the investment. We’re in a new chapter of price discovery.
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Bitcoin isn't just an asset. It's a team. 100,000,000 people worldwide that want to see it succeed. There's never been an asset like it —.
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Bitcoin is the scarcest store of value in the world today —. Annual rates of supply increase:.* Global fiat monies: 14% (over last 60 yrs).* US money: 7.4% (over last 60 yrs).* Gold: 1.5-2% .* Bitcoin: 0.84% (and declining). That means that supply of global fiat doubles every ~5.
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