mrjakewoodhouse on Nostr: The more I’ve looked into it, the only way to run a Bitcoin VC fund is to ...
The more I’ve looked into it, the only way to run a Bitcoin VC fund is to denominate in BTC
A) Give me 250k usd for 10 years
Vs
B) Give me 2x BTC for 10 years
A) is hard to justify vs owning more BTC. But B) is much easier sell. You might get you BTC back, plus the fund returns, or maybe even dividends. B) means you put the concept of beating the BTC hurdle rate right on the fund manager. Who cares how many dollars you might get back in 19 years when they can just print them
How we finance innovation on a sound money standard is fascinating
A) Give me 250k usd for 10 years
Vs
B) Give me 2x BTC for 10 years
A) is hard to justify vs owning more BTC. But B) is much easier sell. You might get you BTC back, plus the fund returns, or maybe even dividends. B) means you put the concept of beating the BTC hurdle rate right on the fund manager. Who cares how many dollars you might get back in 19 years when they can just print them
How we finance innovation on a sound money standard is fascinating