The People's Hedge Fund Manager

Yeah, so we’re excited to get into Cipher Mining, Bitcoin and all that good stuff today, especially, you know, myself, Mike, long-term bulls on the Bitcoin space had been involved in Bitcoin for about four years, so super excited to get into that. Obviously, you’re a long-term bull on Bitcoin and CEO of a Bitcoin mining company and everyone involved in the space, all Bitcoin bulls seem to have a point in time where they catch the crypto bug. So, getting more into Bitcoin and the asset class, what is your long-term outlook as a Bitcoin mining company, CEO and someone, you know, in the day-to-day trenches of Bitcoin and what makes you excited about the asset class over the next 5-10 years? So, I think it’s important to understand, first of all, when you talk about the industry as a whole, I think it has a really good story to tell on this as far as penetration of renewables across the industry, but I think it’s also important to keep in mind, because this seems like the most popular kind of attack vector these days for Bitcoin skeptics.

About us ⇩ Media BNN Bloomberg: Dramatic oversupply of SPACs, but we’re bullish on the market: Accelerate CEO March 24, 2021- Julian Klymochko, CEO of Accelerate, says that there are too many SPACs. At the same time, he believes there is opportunity and is bullish on the market. He joins BNN Bloomberg to dig into this. He runs a SPAC-focused ETF called the Accelerate Arbitrage Fund.

Unsurprisingly, on March 23, 2020, there was effectively no interest in free money opportunities or double-digit return investments with low risk. We ultimately had to delay the launch date of ARB because we had zero investors to seed the fund to launch on March 23, 2020, given everyone was too fearful. SPACs trading below $10.00 represent a free money opportunity because the investor is virtually guaranteed $10.00 plus accrued interest as long as they can hold until maturity and redeem their shares. If Not a Bucket, then at Least Consider a Thimble In March of 2020, free money opportunities emerged because the coronavirus pandemic threatened not only the global economy, but our livelihoods as well.

So obviously we as consumers, we only know one side of it, but don’t really know too much about everything that goes into it from the wineries and, you know, growing, processing, all the way up to, you know, offering products at different price points and really how you guys grow on the consumer side and then everything from that to consolidation, M&A and things of that nature. Those streets going to market kind of the categories, but the majority of the wholesale, the business, most wineries are, you know, 95% plus of wholesale and a little bit of direct to consumer and the larger you go up in volume, or the more you focused on the sub $10 dollar category, you’re even less than the direct consumer side. I think that if you’re going to look in the $10 to $20 dollar price point, you know, you might not use as many oak barrels into the $20 dollar category. I think that’s interesting in the U.S. where we can see the metrics, the average price per bottle that was purchased online actually went down, which really makes sense to me, because as I just said more consumers are coming into the market and where consumers are now ordering wine online that are, you know, $15 dollars a bottle and $12 instead of $60 or $70.