We asked the buidlers of the blockchain and cryptocurrency industry for their views on the sector… and added a few zingers to keep them entertained!
This week,
our 6 Questions go to Joe DiPasquale, CEO of BitBull Capital — a company that manages a bundle of crypto hedge funds and has access to closed and exclusive funds.
BitBull Capital’s CEO is Joe DiPasquale, who has been managing crypto hedge funds since 2017. BitBull was founded by Joe because he believes that active management is key to crypto investments. Joe has invested in 10 crypto hedge funds and also managed his own active strategies.
Joe previously worked as an investment manager, in banking and technology consulting for Deutsche Bank, McKinsey, and Bain. He earned his BA from Harvard University, and his MBA from Stanford University. BitBull runs BitBull Research. It regularly publishes BitBull’s “Crypto Investing Newsletter”, which is free to subscribers on BitBull’s site. Investors can also access its “Opportunistic deals Memo” only.
1 — What’s a problem you think blockchain has a chance to solve but hasn’t been attempted yet?
Blockchain is yet to solve many of the problems. Ben Horowitz, of Andreessen Horowitz, said it’s like the App Store which was launched on iPhones in 2008. We couldn’t imagine apps such as Uber and Pokemon Go but the technology was invented. Blockchain is being used in DeFi, NFTs, the Metaverse and traditional finance. However, most of the developments are yet to come.
2 — What type of consolidation do expect to see in crypto industry by 2022?
I don’t think 2022 will be a time of consolidation. Instead, I believe it will be an year of continuing improvement in protocols, from Eth2 and other protocols such as Polkadot to Avalanche, Solana, Polkadot, Avalanche, and many others. Although consolidation is inevitable, we still have a lot of work to do in terms of expansion and development. This is the time to create and diversify technologies.
3 — Which countries support blockchain the most and which will fall behind?
While it will be fascinating to hear Biden’s executive order on crypto, El Salvador has done the most for blockchain and crypto. It was the first country that officially recognized Bitcoin as a legal currency. Other countries like Japan and Switzerland have encouraged and promoted blockchain development. Although Puerto Rico is a territory and not a country it is rapidly becoming a hub for blockchain and crypto activity.
4 — How do people react when you tell them you are in the blockchain industry?
It all depends on how you say it. People are intrigued when I talk about the positive returns we have received despite many down periods in crypto. For example, about receiving 15%-20% APY with stablecoins vs. 0.1% for a bank account. People don’t understand the difference between buying and holding Bitcoin if you just tell them that you have a crypto hedge fund.
5 — Who makes sense?
It is important to be able take in information from many sources. This is especially important when investing. I listen twice as much to people who don’t understand me. However, I do love the fact that hedge funds are quantitatively measured and results are available for everyone to see every month.
6 — Name the items you love to keep.
My desk is where I spend most of the day working. It has been designed specifically for me. Some things that I have gotten over time, like an artistic Bitcoin representation I received from a meeting held in Japan, I keep on my wall.
