Are you putting in 15x more effort for the same result due to a blindspot?
Patient Capital (the world's pension and sovereign funds) are 15x larger than all the world’s hedge funds yet more attention on hedge fund adoption of Bitcoin. Patient Capital is also a much better fit for Bitcoin, because they have a longer investment horizon - as their name suggests.
So why does the world tend to focus more on Wall St hedge fund allocation to Bitcoin?
I will answer that question with a question.
We know that “Cutting methane is the strongest lever we have to slow climate change over the next 25 years” - so why does only 2% of climatetech finance go into methane mitigation, vs 98% CO2 reduction?
We know that 65% of all tech company failure is human-centric - so why does almost no resource go into using proven recipes to overcome the causes of human-centric failure.
Same answer to all three questions:
humans have blindspots.
Where we put our attention may be out of habit, convention, traditional, or collective “wisdom” - not necessarily what the data tells us is the area most deserving of our attention.
That’s why to date, we have focused more on $5Tr of hedgefunds or $72Tr patient capital: we know more about it.
By finding out more about Patient Capital, we can put more of our attention in an area that yields 15x as big a reward - possibly much more, as it is a more natural Bitcoin-fit, with stronger hands than most hedge funds.
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Completely agree with the sentiment, although as someone who works in UK pensions I’d argue it may also be a case of meeting people where they’re at? Hedge funds seen to be more receptive/willing to change? I’ve tried raising Bitcoin in the context of UK pensions and the overwhelming reaction to this is still very negative amongst pension schemes/trustees!!