April 30 – May 6, 2020 | 3iQ Receives Receipt for Final Prospectus, Bloomberg Intelligence Report, and More

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

The Bitcoin Fund Receives Receipt for Final Prospectus

3iQ Corp| May 5, 2020

3iQ Corp. is pleased to announce that The Bitcoin Fund (TSX:QBTC.U) has received a receipt for its final prospectus in relation to a new issue of Class A Units and Class F Units at a price of US$11.87 per Class A Unit and US$11.63 per Class F Unit. Books are expected to close Thursday, May 7th at 12:00 EDT.

Read the full press release


Bloomberg Intelligence Analyst: Here’s a Reason Why Bitcoin is Better than Gold

Bloomberg | May 5, 2020

Bloomberg Intelligence analyst Mike McGlone has released a new report on bitcoin, suggesting that the cryptocurrency is better than gold for several reasons. “Unlike quasi currency brethren gold, higher prices won’t be an incentive for more supply,” said McGlone. “Restricted supply means adoption is the metric that matters, and most indications remain positive in an unprecedented environment where virtually every central bank is aggressively adding liquidity.”

Read the full report


Ranking Institutions: Family Offices Most Likely to Invest in Bitcoin

CryptoNews | May 4, 2020

According to Nick Prince, the Financial Strategy Analyst at the major cryptocurrency exchange Coinbase, family offices are the most likely type of institution to start investing in crypto, largely in part due to the lack of oversight from the public on the firm’s investment strategies. Family office investors are also more capable of investing in private and alternative markets which aren’t always readily available to other institutions which manage client assets. “With both the willingness and ability to invest in crypto,” said Prince, “this group is a logical early entrant into crypto investing.”

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The Bitcoin Halving Event is in 5 Days as Increasing Government Spending and Deficits Loom

Forbes | May 6, 2020

The bitcoin halving event is expected to take place in just five days, and block rewards will be cut in half from 12.5 to 6.25 newly minted bitcoin. Unlike bitcoin’s previous halvings back in 2012 and 2016, this halving event coincides with uncertain monetary policies around the globe due to COVID-19, increasing regulatory clarity surrounding digital assets, and the introduction of government-backed digital currencies.

Read the full article


Upcoming Halving Could Bring More Miners Back to North America

Decrypt | May 5, 2020

According to data from CoinShares, Chinese mining pools account for approximately 65% of Bitcoin’s hashrate, while North American counterparts make up just 15%. According to the article, hash rates may shift back into other jurisdictions around the world such as North America as the upcoming halving event could spell trouble for many Chinese miners which operate under heavy financial leverage. “Chinese miners are generally more leveraged than North American,” said Ethan Vera, a mining pool operator at the North American Luxor Mining Pool. “It’s clear that they are highly levered because during the fall in crypto prices in March, almost all of them margin called.”

Read the full article

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Disclaimer

This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.