What a fabulous start to the year! BTC has increased by 30% in January and ETH is up 39%. This rise has been seen all over the cryptosphere and clearly shows a change in the trend that we observed for the second 2019 part. Spring is definitively around the corner, and with the upcoming halving, we should all be prepared for a hot summer.
In this context, our Long Only strategies performed quite well with the BTC one returning 27% for the month, after entering into the market on 3rd January, after a long pause since 8th November 2019. Indeed, it cut its exposure at 8468 USD on 8/11/2019 and re-enter a position at 7339 USD on the 03/01/2020.
During this month, we have finished developing five hourly strategies, 2 for BTC.USD pair, 2 for ETH.USD pair and one for ETH.BTC.USD allocation purpose.
Also, another one is in the pipe for BTC.USD. All these strategies, given their potential of higher frequency intervention, will only be available on Napoleon Software, when it is finally released. This should not be long now.
The January bull trend facilitated contact and interest from clients. We have been very proactive on the sales side and glad to count 2 new clients since mid-January. We held a conference at Palais Brongniart that went well. We have also evangelized 2 Tier 1 French AM through dedicated meetings with their diversified asset management team.
Our pipeline is composed of 3 family offices looking seriously at Bitcoin, 3 AM companies (1 Tier 1 and 2 Tier 2) and 3 Private Banks. We have also been contacted by 11 Financial Advisors and 2 High Net Worth Individuals assimilated to qualified investors.
In parallel, we are also discussing with more sophisticated prospects that could be interested in seeding our DAF#1 that follows the BTC Long Only strategy. We are confident that this crypto rally will definitely accelerate the fund selling and continue to meet and discuss with potential investors.
The napoleonx.ai will be updated on mid-March 2020 to embed the registration process detailed in the January newsletter. Following this newsletter, we received several questions.
We listed most of them and try to answer them in a document that has been then delivered to our telegram group. We will keep this process so that we can answer your questions in an effective and transparent way.
Spring has come earlier this year for the crypto market, and hopefully, with the upcoming halving, we could witness an acceleration in the coming months. We believe the real blow out is further in time, perhaps by 2021, but we should have a terrific year.
On our side, we are finalizing the implementation of the second right associated with our token, i.e. the management fee mechanism for the Napoleon Bitcoin Fund.
We are still in advance to seize the market of institutional-grade crypto investment solutions and hope to leverage on the current price action!
The co-founders of the NapoleonX project