Paul: Two Sigma, Citadel, and Rentech Stayed Out of Crypto in 2017
Ari Paul · Crypto for Institutions 4: Ari Paul – Exploiting Inefficiencies in Crypto Trading (Capital Allocators, EP.183) · Mar 18, 2021 · at 23:12
Ari Paul, CIO of BlockTower Capital, explains the lack of institutional competition and infrastructure in crypto in 2017.
0:00 / 0:07exact quote · 7.4s
720p mp4 · rendered on demand · StarZero watermark
“I saw that guys like Two Sigma and Citadel and Rentech and the discretionary trading houses, none of them were in crypto for good reasons.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Ari Paul
Paul: 10% Chance Bitcoin Suffers Disabling Attack By 2026
“I put it at maybe 10% over the next five years that there is a successful attack on Bitcoin that effectively renders the network temporarily unusable, but unusable in a way where we don't know when the next attack will be.”
Paul: Bitcoin is a risk asset that drops with equities during recessions
“And we were strongly convicted that that's nonsense, that Bitcoin is a risk asset. And while it might not be correlated one to one on a five percent S&P move, If S and P falls enough, Bitcoin is going to catch up to the downside because that's wealth destructi…”
Paul: Professional Capital Controls Under 3% of Crypto Assets
“The professional capital and cryptocurrency probably controls less than three percent of the assets, which is the lowest ratio of any major asset class.”
Paul: The NFT Space Will Probably Grow 100x By 2024
“So I think over the next three years, we're going to see the NFT space grow probably a hundred X in size.”
Paul: Exploitative Play Beats Game Theory Optimal Play in Poker and Trading
“In poker, there's game theory optimal play, and there's exploitative play, and the biggest winners are the ones who exploit.”
Paul: Segregating Risk Management From Portfolio Management Is Nonsensical
“Risk is inseparable from return, that the idea of segregating the risk function from portfolio management is nonsensical. There's actually a discussion that I sometimes have with prospective investors in BlockTower, where they'll say, oh, do you have a separat…”