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January 06, 2022

Fun Facts from 2021

  • DAOs became more prevalent and influential, my favorite, ConstitutionDAO, where an anon community was able to raise $40M+ in a few days to bid on an original copy of the US constitution. Sadly, they lost to Hedge Fund billionaire Ken Griffin of Citadel, but the feat was remarkable.

  • El Salvador adopted Bitcoin as a legal tender and now the leader trolls social media by buying the dips.

  • LATAM countries are exploring bitcoin-backed bonds, will be interesting for the fixed income marketplace.

  • Anchor Protocol as $6B+ in TVL and still finds ways to offer 20% yield on UST, I would check this out. Better than keeping money in a traditional bank earning less than 1%, especially when inflation is at a 39 year high of 6.8%.

  • Meme communities remain strong: look at Doge in the first half of the year followed by Shiba in the second half of the year

  • China banned Bitcoin again…but Bitcoin remains strong. I think people have stopped caring about what China does in relation to digital currencies.

  • GPU shortage, in part, because mining was very profitable in Q2’21. Main reason is supply shortages and logistical issues of COVID-19.

  • Elon flip flopped on Bitcoin, seems to like Doge, and who knows what else is in store for 2022. My guess, solar-powered bitcoin mining rigs on Mars…

  • Jack Dorsey has stepped down from Twitter, rebranded Square to the Block, and is expected to focus on building within the crypto space.

Harsharn Singh
Investment Associate | Ember Fund

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