The Pomp Letter

To investors, Yesterday I had the pleasure of speaking at FarmCon, one of the largest agriculture-focused conferences in the country. I was blown away by the ~ 1,500 people in attendance. There were farmers, commodity traders, technologists, financiers, and lots of people in-between. One of the themes we discussed on stage was the state of the US financial market. I did my best to explain bitcoin...

To investors, Bitcoin is going to infiltrate every corner of financial markets. This has become increasingly clear over the last few years. Everyone knows that retail investors had the opportunity to purchase and hold bitcoin before the institutions. This is one of the first times in history we saw the little guy get an advantage, but the big guys are not going to sit around and ignore the digital...

To investors, The S&P 500 has been the standard measurement of “the market” for decades. Most hedge fund investors benchmark their performance against the index and media outlets reference the index price movements as a signal for market sentiment. This has been happening since 1957 when Standard & Poor’s expanded their index to include the current structure — a market capitalization weighted inde...

To investors, Bitcoin is starting the new year with a slight lift in price, but the true measure of success for the digital asset can be found in the underlying metrics. I want to highlight a number of data points for you this morning as we kick off 2025. Bitcoin’s hash rate currently sits at an all-time high, which signals the increasing strength of the blockchain. If you combine all of the compu...

To investors, I have assembled a collection of charts and graphics to better understand where we are in the bitcoin cycle, along with how the digital currency is impacting financial markets. First, bitcoin has hit a new all-time high. While that is cause for celebration, we are nowhere near the top of this bull market yet. According to Stockmoney Lizards , “ Satoshimeter is loading, but is only 9....

To investors, As the price of bitcoin has risen in recent weeks, I keep getting asked whether it is a good time to purchase bitcoin. This question comes from friends, colleagues, barbers, taxi drivers, doormen, and random people I meet socially. Everyone wants to know if they should be buying bitcoin or if it is too late. Here is what I tell them — the decision to purchase bitcoin today comes down...

To investors, Bitcoin hit $100,000 per coin last night for the first time in history. This historic milestone is psychologically important because humans like big, round numbers and there is no denying the success of bitcoin now. You can see bitcoin dominating headlines at every major news outlet. Word of mouth is starting to spread. Google search volume is accelerating. The bitcoin marketing mach...

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To investors, A key theme in public markets throughout 2025 will be opportunities for corporations to give investors access to corners of the crypto industry that are otherwise hard to access. As I have written about previously, DeFi Technologies has successfully done this with first-to-market ETPs and Hut 8 has created an energy infrastructure business serving both bitcoin mining and artificial i...

To investors, I was interviewed by Fox Business’ Charles Gasparino yesterday at the 10X Wealth Conference in Miami, Florida. One of the topics we spent time on was bitcoin’s volatility. This is a common critique used by traditional market participants, but those critiques led me to think more deeply about the pros/cons of bitcoin’s volatility. I should start by saying young investors today should...

To investors, Bitcoin had one of it’s most impressive days in history yesterday. The asset was up more than 13% and nearly hit $90,000 on the day. There was a lack of substantive news, so I believe the price action was merely Wall Street realizing they were under-allocated to bitcoin. For example, bitcoin was trading around $76,000 on Friday afternoon when the stock market closed. The asset had ap...

To investors, Bitcoin hit a new all-time high of more than $82,300 this morning. This means the digital currency is up over 18% in the last 7 days. The market seems to like that a pro-bitcoin President was elected. The latest all-time high is going to be particularly important for the trajectory bitcoin will travel in the next 12 months. I believe crossing $80,000 — which is a nice, big round numb...

🚨 READER NOTE: Next Tuesday, I am hosting a free webinar for anyone who wants to learn more about Bitcoin self-custody. It will be a 3+ hour masterclass where my team and I will walk through step-by-step instructions for implementing self-custody and answer questions. The event is completely free and open to anyone who wants to attend. Register for free here: https://lu.ma/selfcustody To investor...

To investors, The citizens of the United States spoke loudly last night. They delivered a crushing victory for Donald Trump, including a Republican victory in the House, Senate, popular vote, and electoral college. Very few people thought Trump would win the popular vote, but here we are. This can only be described with one word: Landslide. The mandate to Trump is clear — get inflation under contr...

To investors, The next President of the United States will be decided today. Tens of millions of Americans will cast their vote in hopes of seeing their candidate elected. But investors are laser-focused on how the election will impact their portfolio. My goal with today’s letter is to answer that question. First, Chris Hayes and Alex Harring from CNBC analyzed the S&P performance after every elec...

To investors, The President of the United States will be elected tomorrow. It is unclear how long it will take for ballots to be counted, but we will definitively know who is the next President by the end of the week. There is a lot of uncertainty before we get that answer though. We saw multiple polls conflict each other over the weekend. The famous Selzer poll in Iowa has Trump behind by 3 point...

To investors, Everyone wants bitcoin. That is becoming increasingly clear on a daily basis. We saw announcement after announcement this week proving the desirability of a scarce digital currency. First, we saw Jimmy Patronis, CFO for the state of Florida, go on CNBC and advocate for bitcoin to be put on the state’s balance sheet. Patronis highlighted the overreach of government surveillance, the d...

To investors, I have important news to share — I have reached an agreement with Hut 8 ($HUT), a publicly-traded company on Nasdaq, to become an advisor and help them scale the company. In order to understand why I am spending my most valuable resource—my time— on this, we should start with some context. Energy is one of the most valuable commodities in the world. Humans need energy to create a mor...

To investors, I published a 2-hour conversation with Cantor Fitzgerald CEO Howard Lutnick yesterday. The reception has been very positive, including a number of people saying it is the best conversation we have ever recorded. Howard and I spent a good amount of time talking about the national debt. I expected him to harp on the nearly $2 trillion annual deficit that the government runs and he did...

To investors, There is a vibe shift underway in America. It is hard to describe, but you know it when you see it. Take this yard sign as an example. My friend Based Beff Jezos tweeted this photo from a home in Los Angeles. This yard sign would be expected in the American South, but it is shocking to see in Southern California. That is part of the vibe shift. But the vibe shift is happening in fina...

REMINDER - Crypto Investor Day Is This Week! Reflexivity Research invites you to join us on Friday, October 25th in New York City as we continue to bridge the power of traditional finance with the innovation of crypto. ​​We’re inviting hundreds of institutional investors, capital allocators, and entrepreneurs together for the inaugural Crypto Investor Day . The event will be hosted by Reflexivity...

To investors, Elon Musk and Tesla unveiled a number of new products last night. These prototypes give us a glimpse into the future and were incredibly compelling. First, Elon showed off the Tesla humanoid. These machines, called Optimus, walked out into the crowd to mingle with attendees. Elon claims the bots will be able to “walk your dog, mow your lawn, get the groceries, just be your friend." A...

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Today’s letter is brought to you by Domain Money! If you’re reading this right now you don’t need financial advice, if you did you would use  Domain Money , a company of flat fee financial planners that craft you a personalized, in-depth plan with unbiased, straightforward, and real sound advice based on your values and goals, but you are all better than that. You know about money. That’s why you’...

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