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The Case For Owning Ethereum And The Best Way To Do It
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The birth of Ethereum… A Forever Portfolio of blockchain assets… Institutional investors will soon pour in… A core “must own”… Everyone’s all-in on Mag-7… Leveraged ETFs… |
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Today, Porter turns the Journal over to Erez Kalir, editor of Porter & Co.’s Tech Frontiers. Five of the 12 open positions in the Tech Frontiers portfolio are up 2x or more since he recommended them. There are three more that doubled before he suggested selling them to take gains. Overall, the portfolio is up 54% since he launched it last year.
Erez has degrees from Stanford, Yale, and Oxford, has studied biology, finance, and law, and has worked at McKinsey & Co. and for Julian Robertson at Tiger Management. Porter & Co. has recently expanded the domain of Erez’s investment research to include tech stocks, the blockchain, and science beyond his original focus of biotech.
Here’s Erez…
January 2014 was a big time for Bitcoin…
The price of the fledgling cryptocurrency was just below its then-all-time high of $1,150.
The U.S. Senate was beginning to explore what Bitcoin was and whether it should be regulated.
And the annual North American Bitcoin Conference in Miami was bustling with excited attendees.
But, oddly enough, the most tantalizing invite in Miami during that year’s Bitcoin conference was to a meeting at a rented beach house where a small group of developers was working on an idea that sounded both preposterous and inevitable: a blockchain that could run software. Weeks before, the group’s leader, a wiry, intense, 20-year-old named Vitalik Buterin, had circulated a white paper outlining the project. He named the new protocol Ethereum.
Today, Buterin is widely recognized as Ethereum’s founder… while a handful of other key players – all present at the Miami beach house that year – are credited as co-founders.
More than a decade since that fateful gathering in Miami, Ethereum has firmly established itself as the second most valuable blockchain protocol in the world. Its market capitalization of $500 billion dwarfs all other blockchains except Bitcoin, which has a market cap of $2.25 trillion.
For context, one of the cluster of chains vying to be the next most valuable – XRP, which readers of both the Daily Journal and my Tech Frontiers advisory will recognize as the token associated with Ripple Labs and Tech Frontiers SBI Holdings (Tokyo: 8473 JT) recommendation – has a market cap of $140 billion.