Investor Letter

With 2018 in the books, we can officially say that the Third Wave Digital Asset Fund was profitable for the year. While it is true that we got a late start with an inception date of 10/31/18, Bitcoin was trading at $6,310 then and finished the year at $3,700 – down 41% over the same term.

Merry Christmas and Happy New Year!

In April 2013, Bitcoin fell from $233 to $67, overnight. That’s a drop of 71%.

After that, you could buy a Bitcoin for around $120 for most of 2013 but by the end of the year you’d have to fork over more than $1,100 – Bitcoin was up more than 800%. Then from there the price dropped by 86% over the next year or so.

Bitcoin is down around 85% from its highs reached in December 2017, as of just a few days ago