Update from Mission Control

Treasure Island, Florida

SpaceX's Falcon 9 is seen launching from Cape Canaveral Air Force Station on Thursday, Feb. 21, 2019 -  SOURCE

SpaceX's Falcon 9 is seen launching from Cape Canaveral Air Force Station on Thursday, Feb. 21, 2019 - SOURCE

February is the month of love and we are happily in love with our crypto positions this month!

Since my last post we have initiated a new position in NEO (NEO) and added to our holdings of Ethereum (ETH), Stellar Lumens (XLM) and Tron (TRX). We closed our position in Binance Coin (BNB) reaping almost 50% profit. We will be looking at buying it back after an expected pullback.

We also got an infusion of cash that we are going to put to work very soon provided the “banksters”, aka banking cartels, aka traditional banks - facilitate our cash movements. This is easier said than done. The banks are behaving like luddites destroying factories in the early 1800’s. It’s really something to witness. The banks have made it extremely challenging for entities to do business in crypto markets – and it doesn’t seem to be getting any easier. But there are solutions on the horizon. See Silvergate Bank out of San Diego, for example. Unfortunately, they are looking for funds with over $10,000,000 to deposit – just to open an account. This is a little out of our reach, for now.

As we have discussed in previous blogs, we are in accumulation mode. Several newsworthy items seem to be coming to fruition and we are ready to exploit those which materialize.

One such development involves The United Arab Emirates and Russia having begun to issue guidelines and rules for cryptocurrency. Also, Russia is developing an oil based crypto currency pegged to its oil reserves.

UAE: https://www.bloomberg.com/news/articles/2019-02-25/crypto-assets-get-arab-world-s-first-regulatory-nod-from-bahrain?srnd=technology-vp

Russia: https://www.ccn.com/russia-regulate-cryptop-with-a-keen-eye-on-oil-backed-digital-currency

The Constantinople Fork of the ETH blockchain which we have discussed before, is scheduled at block 7,280,000 which should happen on February 28th at current rates. To correct the issue that was found and caused the delay of this fork, there will also be another upgrade referred to as “St. Petersburg” happening simultaneously.

As mentioned above, we recently added to our TRX position. This was partly in anticipation of its own hard fork.The fork will add the ability for institutions to create multi-signature capabilities and account management.

NEO is our newest digital asset in the portfolio. You can find them here: https://neo.org/

NEO Founder Da Hongfei says NEO will be the “Number One” Blockchain by 2020. We wish them the best and we’ll be along for the ride!

There is so much more to report, but so little time. We have had a great month so far and I am still as excited as I ever was about where this market is headed. It is fun to be on the leading edge of the institutionalization of digital assets.

Thank you for letting me do what I love.


Steven E. Orr

Portfolio Manager

Third Wave Digital Asset Fund


Legal Information and Disclosures

This commentary expresses the views of the author as of the date indicated and such views are subject to change without notice. Third Wave Digital Asset Fund, LLC (“TWDAF”) has no duty or obligation to update the information contained herein. This information is being made available for educational purposes only. Certain information contained herein concerning economic trends and performance is based on or derived from information provided by independent third-party sources. Elevate believes that the sources from which such information has been obtained are reliable; however, it cannot guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Elevate. Further, wherever there exists the potential for profit there is also the risk of loss – in the world of digital assets this is magnified.