2023 was an exceptional year for digital assets and for the market leader Bitcoin in particular. Its unique properties become increasingly relevant in a period of high inflation, extreme fiscal policies and weaponization of global finance. Since its inception, the market performance reflects that the above is true and we believe that will continue into 2024 and onwards.

We have confidence in the idea that you can ignore the best performing asset class only for so long. The asymmetric returns of BTC and ETH leave the entirety of other asset classes look half-pie and market participants across the globe will certainly realize that.

2023 was a primer. Despite macroeconomic uncertainty, Bitcoin and Ethereum outperformed any other asset class by substantial margins, even on a risk adjusted basis.

On an asset specific level, only individual stocks such as Meta or Nvidia came with a higher Sharpe ratio.