Crypto | Stocks | Yield
Distinct roles. A shared framework for risk.
Crypto
The return engine
A Bitcoin core, accumulated through disciplined tranches and a reserve. Select digital assets add exposure to the cycle, with position sizes guided by liquidity and risk.
Our framework combines daily accumulation, staged entries and a reserve with a selective group of 5–10 altcoins. Each satellite position is considered in the context of its sensitivity to Bitcoin, liquidity and the wider portfolio.
Market volatility, liquidity, custody and changing regulation.
Stocks
Diversified beta
The businesses behind the buildout: compute, power, AI infrastructure and crypto-linked equities. Fundamental research connects structural demand with valuation.
We focus on the infrastructure behind AI, miners with economically credible AI contracts, and listed businesses linked to digital-asset adoption. Revenue quality, capital intensity, execution and the price paid matter as much as the theme.
Earnings disappointments, valuation compression, concentration and correlated drawdowns.
Yield
Income with defined risk
Stablecoin lending, tokenized Treasury exposure and selected covered-call strategies. We evaluate the source of yield, collateral and liquidity before allocating.
The case study considers established lending venues such as Aave and Morpho, tokenized Treasury bills and Bitcoin covered calls. The framework prioritizes the lower risk tiers within our internal assessment. Yield is variable and covered calls can limit participation in rising markets.
Smart-contract failure, counterparty default, stablecoin depegging and liquidity constraints.