We asked blockchain and cryptocurrency industry builders what they think of the industry…and threw in some random jokes to keep them on their toes!
This week, Our 6 questions are addressed to Joe DiPasquale, CEO of BitBull Capital, a company that manages a set of crypto hedge funds and has access to exclusive, closed-end funds.
Joe DiPasquale He is the CEO of BitBull Capital, which has been managing cryptocurrency hedge funds since 2017. Joe founded BitBull because he believes in actively managing cryptocurrency investments. He has been an investor for 10 different crypto hedge funds as well as running his own active strategies since 2013.
Previously, Joe worked in investment management, investment banking, technology and strategy consulting at Deutsche Bank, Bain and McKinsey. He received his BA from Harvard University and MBA from Stanford University. BitBull also runs BitBull Research, which regularly publishes its "Crypto Investing Newsletter," available with a free subscription on the BitBull website, as well as its "Opportunistic Offerings Memorandum," available only to investors.
1: What is the problem you think blockchain has a chance to solve but hasn't been tried yet?
Most of the problems that will be solved by blockchain are yet to be solved. Ben Horowitz of Andreessen Horowitz has said that it's similar to the App Store that appeared on iPhones in 2008: we couldn't conceive of apps like Uber or Pokemon Go or others, but the technology was created. With blockchain, we are seeing its use in cryptocurrencies, DeFi, NFTs, and the Metaverse, and even traditional finance, but most of the developments are yet to come.
2: What kind of consolidation do you expect to see in the cryptocurrency industry in 2022?
I don't think 2022 is a year of consolidation; rather, it will be a year of continual improvement of protocols, from Eth2 to various others like Solana, Polkadot, Avalanche, and more. While consolidation is inevitable, we are still in the early stages of development and expansion. This is a time for the creation and diversity of technologies.
3 — Which countries are doing the most to support blockchain and which will be left behind?
It will certainly be interesting to hear Biden's planned executive order around cryptocurrencies, but El Salvador has gone to great lengths to support blockchain and cryptocurrencies. It was him first country to officially qualify Bitcoin as legal tender. There are other countries, such as Japan and Switzerland, where the development of blockchain has been promoted and encouraged. And although it is a territory, not a country, Puerto Rico is fast becoming a hotbed of blockchain and crypto activity.
4 — When you tell people that you are in the blockchain industry, how do they react?
It depends on how you express it. When I talk to people about our positive returns through many low periods in crypto, like the beginning of 2022, or how to get 15-20% APY on stablecoins vs. 0.1% with a bank account , They are interested. When you simply tell people that you run a “crypto hedge fund”, they tend to not understand how it differs from buying and holding Bitcoin.
5 - Who makes sense to you and who makes no sense at all?
One of the most important things in investing is being able to get information from a variety of sources, including, and especially, those with which you disagree. If people don't make sense to me, I try to listen twice as loud. On the other hand, one thing that I love about investing and managing hedge funds is that we are very quantitatively measured, and our results are available for everyone to see on a monthly basis.
6 — Name the things you own that you will never part with.
I spend most of my time working, so my desk setup is specific to me and has been built over time to be comfortable and efficient, including my second monitor and the ability to sit or stand . There are also certain things that I have received over the years, such as an artistic representation of Bitcoin from a meeting in Japan, which I also keep on my wall and love.
