GBTC Archives - Praetorian Capital

On Inflecting Trends…

As a long-time inflection investor, I’ve learned that many themes simply do not inflect. There are multiple causes for this; often tied to a bad thesis, or a bad set of assumptions. Sometimes, it’s simply bad luck as some other macro trend supersedes my trend. Even when I get it wrong, there is often still […]

On Riding Freight Trains…

I have a friend who’s a reasonably competent trader. He’s the type who draws his voodoo lines everywhere on the charts. He caught the trendline break on Bitcoin around $9,200. He expected some resistance around $10,000 and sold out for a quick score just below the figure. He then got the breakout at $12,000 and rode […]

My Favorite Ponzi Scheme…

Let’s set some ground rules here. As far as I’m concerned, Bitcoin is a Ponzi Scheme. If you think Bitcoin is the future of money, a store of value or any other nonsense, I’m not going to disagree with you. Every good scam needs vocal and loyal apostles. Go out and spread the gospel—you have […]

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