Investment thesis⁠

Digital assets, often incorrectly labeled as cryptocurrencies, are the foundation of projects built on blockchain technologies. This world is still not fully understood by many investors. Given its complexity, they often fall prey to the opinions of "experts" who are not fully oriented in this world themselves.

Therefore, we have prepared at least this basic overview of what our investment thesis is based on and why we believe that investing in these projects makes sense not only from the perspective of high yield potential, but also due to hedging investments in existing technology companies that may be threatened by this emerging technology in the long run.

“Blockchain is the biggest opportunity set we can think of over next decade or so.”

Bob Greifeld, former Nasdaq CEO

Why we believe in blockchain

The basis of any well-functioning project or technology is the creation of added value for the customer. If a new technology can already (or potentially) optimize the functioning of any system or bring a completely new way of functioning, it clearly has a place and purpose in the market.

Currently, blockchain-based projects bring this primarily due to the following features:

icon - Decentralization

Transactions in the blockchain are processed and verified by the consensus of the majority of network nodes. They are replicated on nodes in the ledger, eliminating the need for intermediaries to share and maintain transaction data. The system functions without centralized trust.

icon - Immutability

Transactions in the blockchain are stored in blocks. Each block in the chain is linked to the previous block using a cryptographic hash function. Any attempt to modify a block affects the following blocks in the chain. Data on the blockchain cannot be easily deleted or changed.

icon - Transparency

The ledger is updated only if the majority of nodes reach consensus. Changes in the network are publicly visible, ensuring transparency and security.

icon - Traceability

The distributed and transparent nature of the blockchain makes it easier to track any transaction event. Each status update can be traced back to its origin, helping to increase network security, efficiency, and transparency.

icon - Trustworthiness

Blockchain technology enables transactions between unknown parties who do not trust each other. By distributing the ledger to various nodes in the network and updating that ledger through consensus, transaction validity is ensured in an untrusted environment.

Basic categorization of the digital asset world⁠

The digital assets we invest in can be divided into three basic categories, which are then further subdivided into a number of subcategories:

Means of exchange

This category started everything, and its best known representative is Bitcoin. These are proof-of-work or proof-of-stake digital assets that can truly be called cryptocurrencies. They are payment networks that apply all the basic key features of blockchain into practice. The main representative is Bitcoin, although it has proven to be a store of value asset rather than a currency, and will always have its place in the world of digital assets. For this reason, other assets in this category, such as Litecoin, XRP, Monero, Dash, Zcash, NEM, ZEN, Bitcoin Cash, or Digibyte, are only included in the portfolio in exceptional situations.

Smart contract networks

This category was founded in 2015 by Ethereum with the coin ETH. Smart contract networks are platforms on which decentralized applications and tokens can be programmed. The coins of these smart contract networks are typically used to pay fees in the given network and have decision-making rights over that network. As further examples, we can mention Solana with the coin SOL, Cardano with the coin ADA, Cosmos with the coin ATOM, and others. For these projects, adoption of the given networks is most important from an investment perspective - how many people are developing projects there and how much they are being used.

Tokens on smart contract networks

Coins that do not use their own blockchain network are called tokens. Tokens are digital assets that anyone can easily create on one of the smart contract networks, and with great perspective, we can generally approximate them as project stocks to which they are linked. There are the most projects of this type in the world of digital assets, and anyone can program them as they wish and assign them any utility they want. Sometimes they are completely worthless, and sometimes they can provide even greater benefits to their holders than holding stocks in the traditional financial world. Identifying from data which projects really make sense and which are worthless is our key know-how. Thanks to this, we can potentially achieve high returns.

Thanks to our knowledge and the inefficiency of the digital asset market, we are able to compare digital assets primarily from categories 2 and 3. Therefore, we are able to beat market results or individual projects in the long term.

Adoption of digital assets

The digital asset market is built on new technologies and their application in practice. Very often, investors who are knowledgeable in other industries express their opinions on this market but do not fully understand the principles of this technology. Therefore, there are many myths and misconceptions circulating among investors.

Below, we will look at selected uses of blockchain technologies with the aim of showing simply and practically why this technology makes sense, what its real uses are, and the value that investors subsequently appreciate in the digital asset market.


Open Finance

We believe that when all investment units such as stocks, bonds, real estate, currencies, or commodities become interoperable, programmable, and included in blockchain networks, they will become more efficient and accessible to every person on the planet.

Adoption accelerators

Adoption accelerators 

  • more efficient global markets
  • rising global inequality
  • the rise of retail investing (e.g. Gamestop/Reddit)
  • more accessible financial services


The thesis of Web3 is based on the vision of sovereign data, where consumers are entitled to own their data. And as this paradigm shifts from technological giants and banks owning consumer data, there will be a massive wave of innovation and value creation. This change will enable the creation of many new business sectors and services.

Adoption accelerators 

  • untrustworthy software innovations
  • Cambridge Analytica
  • Equifax data breach
  • SolarWinds hacks
  • big tech and antitrust backlash

Non-sovereign Money

Many people think it's just "digital gold." However, we believe that this concept significantly devalues the basic thesis. We consider global non-sovereign money to be a superset of "digital gold." In terms of breadth and possibilities of use, digital assets represent a much larger market.

Adoption accelerators 

  • unprecedented monetary policy
  • devaluation of the US dollar
  • concerns about inflation
  • historically low yields
  • "programmable" money
  • Tech and Finance mergers

Categories of Digital Assets


Category Cryptocurrencies

Representative: Bitcoin (BTC)

This is the first and most widespread blockchain project that was created in response to the crisis in 2008. The problem that Bitcoin solves is mainly trust, security, and transparency. Because it is built on a blockchain, it allows the exchange of currency between participants without the need for an intermediary and without risk.

At the same time, the number of BTC is limited to 21 million, and it is not possible to create more, as is the case with traditional state-issued and controlled money.

Currently, despite its high volatility, it is primarily attributed the function of a store of value, also known as "digital gold." The main reason why Bitcoin is more efficient than physical gold is mainly due to its easier exchange, storage, and availability anywhere in the world. And all that is needed is access to the internet and the code to your virtual wallet.

The advantages of Bitcoin can be discussed for hours, and its growing community is very actively spreading awareness of its practical use. From an investor's perspective, it is important that its adoption is constantly increasing, and the number of holders is increasing. As a result, the susceptibility to market manipulation decreases. In short, increasing demand with limited supply most likely means long-term price growth for the selected asset. Questioning an investment in Bitcoin today is the same as questioning an investment in gold.


Category: Smart Contract Networks

Representative: Ethereum (ETH)

Ethereum is a leader in the field of smart contract networks. Smart contract networks can be thought of as a "blockchain internet" that enables programmers to create decentralized applications. In order to use the network, fees must be paid, which are paid in the network's native coin, Ether (ETH).

In simple terms: the more applications that are in operation on the network, the more users are using the network, and the higher the demand for ETH, which means a rising price. In essence, holding ETH is like holding a share in a company that provides the internet. At the same time, holders of ETH can also have the power to decide on the future development of the network.

Examples of applications that can be created on such a network and the reason why someone would want to use it and invest in it will be shown through the example of tokens on smart contract networks.


Category: Tokens on Smart Contract Networks

Tokens are one of the youngest categories that the blockchain revolution has brought. Initially, currencies were created that allowed virtual money to be sent between each other without the need for intermediaries (banks).

Subsequently, smart contract networks were created, which allowed decentralized applications to be created through so-called smart contracts. This basically created a system in which it is possible to create specific applications, similar to when the first mobile phones with operating systems appeared.

You can imagine a smart contract as a simple command whose execution is ensured precisely because of blockchain technology. It could be a command, for example, that 1 BTC will be deducted from your wallet on a specific date if you do not return the borrowed USD to the predefined address of the creditor.

And this development allowed another step. And that is the creation of a whole range of projects that use the properties of blockchain to solve problems and create more efficient solutions than what current technologies have allowed us.

These projects are simply decentralized companies, and tokens of these projects can have various functions, such as being a "share in such a company," through which its holder receives a share of the project's revenue, but also decision-making power in the project.

There are thousands of these tokens, and there are many uses for them. Our primary focus is on those that have real value and working projects.

For someone unfamiliar with the environment, the number of tokens and their possible uses is certainly confusing. The range of new projects emerging on the blockchain is so vast that for many investors, this entire segment may appear only as a big bubble in which prices fly up and down by hundreds of percent without any logic. However, this market has its legalities, which we have known for many years now, and thanks to which we can select projects with the greatest potential for appreciation.

For example, we present simplistically selected use-cases of individual projects below to better understand the real use of this technology.


Category: Exchange Tokens

These are "digital asset exchange shares." In essence, the exchange charges fees for transactions. These fees are then used to finance the exchange's operations and distributed to token holders in a certain ratio.

These projects, therefore, have a clearly defined use-case, functional products, traction, users, and economics. This makes it possible to determine the relevant value of the token and subsequently consider inclusion in the portfolio after meeting a whole range of other conditions.

image trillions

Category: Lending and Borrowing Platforms

These platforms allow end-users to lend money directly to each other without the need for an intermediary. The loan is secured by the value of "collateral" digital assets, so the lender does not take the risk that the borrower will not return the funds. It is the same principle on which banks lend to people, but more efficient.



Blockchain will in the future allow you to be in full control of all your health data. And that will be wherever there is internet access. It will be possible to share access with doctors and insurance companies.

By giving every patient control over their immutable data, there will not only be a significant increase in efficiency in terms of payments for care (no duplicate procedures or reports of non-existent procedures), but also in terms of improving the quality of care, where the doctor will always have complete and up-to-date information about the patient's health.



Blockchain eliminates the risk of fraud and speeds up insurance payouts. Smart contracts significantly accelerate the payment of insurance claims when pre-defined conditions are met, resulting in new, more efficient and transparent insurance companies built on this technology.


Real estate

In the real estate industry, blockchain brings significant increases in efficiency and security. We may not realize it, but anyone can overwrite data in the land registry at any time, especially in countries with less developed legal systems.

At the same time, blockchain is a solution to the inefficiency of the process of buying and transferring real estate, including the handling of money. With the use of smart contracts, it would be possible to enter a command that, when the seller receives the money in their wallet, automatically transfers the ownership record of the property on the blockchain.

These are just a few examples of the uses of technology, which also has uses in computer games, collecting, media, and other areas of everyday life.

Digital assets - a revolution worth being a part of

The world of digital assets is very dynamic and brings many pitfalls for inexperienced investors. On the one hand, it is very attractive from the perspective of the potential for exponential investment returns, but at the same time, it is also associated with risks in the form of a large number of projects that have no real value and only attract interest and money from investors in various ways.

Unfortunately, these projects then cast a shadow over the entire industry, which is essentially as revolutionary as the advent of the internet. It is an industry that, thanks to technology, will allow us to regain some of the freedoms we have lost due to banks, technology companies, and untrustworthy politicians. And in our opinion, it's worth being a part of it!