Welcome to another edition of the TRU Capital newsletter.
Before we hop into our October recap we have some updates regarding TRU Capital Fund 1!
I've recently spoken with Capital Committees, and Family Offices that are interested in investing in Digital Assets and was commonly asked...
"Why are you currently raising capital and how do you see the market evolving over the next 12-18 months?"
Well instead adding more paragraphs into this newsletter, I've attached the recording to it so you can watch and see how we're helping investors have active management in their digital asset portfolio.
To watch the recording by clicking the button below to see a full breakdown
Now with that said, lets hop right into it.
October, or "Uptober" as it is affectionately known, brought a lot of action to the digital asset space.
Bitcoin broke $70k, Stripe acquired a stablecoin platform in the largest deal in crypto history, and Microsoft is considering buying Bitcoin.
Let's get into it.
In an industry record-setting $1.1 billion deal, Stripe acquired the stablecoin platform Bridge.
This is an effort to bring in-house a lot of infrastructure needed to enable businesses to accept stablecoin payments seamlessly. Stripe already announced a partnership with Coinbase earlier this year and integrated with Base, Coinbase's Ethereum layer two. With this move, Stripe seeks to cement its position as a leader in digital payment solutions.
A new use case for crypto has emerged this US election season, betting on the winner.
Polymarket, a Polygon based Dapp, allows users to bet on the outcomes of unknown future events. One of the biggest draws of attention has been the market on who is going to win the US 2024 Presidential Election, with Donald Trump taking a recent lead. Regardless of who wins, this will likely continue to draw users and attention to crypto into the future.
Galaxy Digital released a comprehensive breakdown of where each candidate stands on important issues related to crypto and digital assets in the United States. For those curious, this is worth a review.
Avalanche released a slew of announcements and upgrades including new infrastructure to support gaming and a partnership with Visa to launch an Avalanche credit card that enables crypto payments. This ecosystem continues to expand and gain traction and is worth paying attention to as the digital assets industry develops.
Microsoft announced that it would be allowing its shareholders to vote on whether or not to allocate to Bitcoin. This comes as Microstrategy announced a capital raising plan to buy another $42 billion worth of Bitcoin on top of their already substantial holdings and the combined holdings of the Bitcoin ETFs crossed one million Bitcoin for the first time.
Bitcoin recently crossed $70 again and is nearing its all-time highs in USD. Bitcoin has already put in all-time highs against 113 different fiat currencies so far this cycle.
We will abstain from a substantial macroeconomic analysis for this newsletter as a lot of policy and outlook will shift depending on the outcome of the US Presidential Election.
However, regardless of that outcome, the forecast for the digital asset class is strongly bullish and growing stronger almost daily.
We encourage investors to remain attentive and remember this is TRU Capital.
We believe that capital is value, cryptography is truth, and Truth is priceless.
We are glad you're here.
Stay Bullish,
Robert J Miller
Founder & Owner, TRUCapital.Fund
Fundamental and Thesis Driven Digital Asset Investing for Investors.
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