May 28 – June 3, 2018 | Hedge Funds, Wall Street & More Crypto News

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

Hedge Fund Owner: Buy Bitcoin While it’s Cheap

May 31, 2018 – Pantera Capital Management Founder Dan Morehead thinks that bitcoin has reached its bottom this year and is at an attractive buying level. Founded in 2013, Pantera Capital Management is one of the first US bitcoin firms. The company also actively participates in ICOs and other cryptocurrencies. Morehead notes that cryptocurrencies as a whole are at an attractive level to buy, down about 65% from their highs at the start of the year. Morehead recommends that traders use traditional market indicators, such as moving averages and the Relative Strength Index (RSI) to determine good entry levels in cryptocurrencies.

“Many institutions are essentially buying the rumor [of potential SEC regulations] and selling the fact,” Morehead notes in an interview. “Getting invested now so that in three, four, five months when the institutional, quality-regulated custodians that we’re hearing about come online, they’ll already have their positions.”

Read the full article here.

35% of High Net-Worth Individuals are Investing in Cryptocurrencies

May 29, 2018 – In a recent survey conducted by the deVere Group, approximately 35% of high net-worth individuals have already purchased cryptocurrencies or intend to do so by the end of the year. The survey was conducted on over 600 high net-worth individuals from the US, UK, Germany, France, Spain, Switzerland, Qatar, South Africa, and Hong Kong. CEO and Founder of deVere Group Nigel Green sees the survey’s findings as a positive, as more of the world’s most influential are unable to ignore the investment potential of cryptocurrencies.

“This mainstream expansion is clearly evidenced by the fact that more than a third [35%] of wealthy individuals around the world – who are already likely to be successful investors – are telling us that they already have exposure to crypto or that they will have by the end of this year.” Green adds that “there’s now surging public awareness of the value, need and demand for digital, global currencies in a digitalized, globalized world.”

Read the full article here.

Traders are Leaving Wall Street and Becoming Crypto Advocates

May 24, 2018 – While Wall Street continues debating whether cryptocurrencies will become a profit powerhouse or a legal liability, some traders have already made incredible returns from personal investments in cryptocurrencies, and are beginning to turn away promising jobs from their firms. Some of the notable Wall Street firms such as Goldman Sachs, Deutche Bank, and BlackRock have had employees leave for other opportunities in the cryptoasset space. Some employees, like Asim Ahmad from BlackRock, have not only left their jobs, but are now becoming active advocates of cryptocurrencies and the blockchain. Ahmad now helps run a fund that invests in blockchain ventures which have positive environmental and social impacts after getting involved with the cryptocurrency ether and its underlying Ethereum blockchain back in 2016.

Former BlackRock fixed-income specialist Adam Grimsley says “you’ve seen a bifurcation internally at many larger houses where senior managers are very skeptical about crypto, while graduates and younger team members are very positive.” Grimsley adds that “the youngsters may have less intellectual baggage and may be more open-minded, but they also have less responsibility for managing risk and working out the practicalities of bolting on crypto to the existing business.”

Read the full article here.

Famed Economic Historian Tells Bank of England That Bitcoin Could be the “Financial System of the Future”

May 28, 2018 – Famed economic historian Niall Ferguson, the author of The Ascent Of Money and The House Of Rothschild, told the Bank of England in a seminar that bitcoin is one of the major challengers of the fiat-based system, and that bitcoin could be the financial system of the future. Back in 2017, Ferguson mentioned that if the world’s millionaires collectively held just 1% of their wealth in bitcoin, the price would be “north of $60,000”.

Ferguson says that “the financial system of today is not fundamentally that different than the financial system of the pre-crisis period, except that big banks are better capitalized. I don’t think much else is really different. The novelties, the things that will really matter ten years hence are still relatively small in scale. Whether its bitcoin or cryptocurrency generally or the massive revolution in online payments that is being achieved by the big Chinese tech companies, that’s the financial system of the future, and it is still small enough not to be systemically important in 2018. In short, I am left feeling we are only a matter of time before the next crisis.”

Read the full article here.

Market Technician: Bitcoin has Found a Bottom

May 31, 2018 – Robert Sluymer, the Head of Technical Strategy at Fundstrat Global Advisors, thinks that bitcoin has found its bottom at $7000 and is a technical buy off its long-term historical trendline. He notes that bitcoin has recovered off this level several times this year already. He also sees that the upside momentum off this level looks positive for a long position. Last week, Fundstrat co-founder and analyst Tom Lee re-iterated his bitcoin price target and still sees bitcoin hitting $25,000.

“The next thing that has to happen is to see Bitcoin actually rally through the downtrend and we use the 15-day moving average, it’s very simplistic, but it’s a pretty good proxy across most markets,” Sluymer said. “Its 15-day moving average of roughly $7,800 will be the next hurdle for it to get through.”

Read the full article here.

3iQ Global Cryptoasset Fund: Price as at June 1, 2018

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

Share This Story!

Subscribe to the North iQ Weekly Newsletter and What Happened in Bitcoin & Ether? reports and stay updated on 3iQ’s news, announcements and developments in 2022.

Subscribe to the Monthly Fund Updates for all of 3iQ’s fund performance profiles.

Subscribe to Research papers and Blogs for recaps and insights on digital asset industry developments, and bitcoin & ether performance analysis.

Related Posts

March 15, 2022 | North iQ Newsletter

El Salvador may reportedly be the first country to ever issue debt backed by bitcoin (BTC) this week. The issuance could mark a major milestone

February 25, 2022 | North iQ Newsletter

The Role of Digital Assets in RRSP Season Investors are increasingly relying on ETF products to gain exposure to certain asset classes, such as digital

February 18, 2022 | North iQ Newsletter

Incremental Allocation to bitcoin (BTC) Over the last five years, traditional 60/40 equity and bond portfolios which had allocated to bitcoin (BTC) performed well compared to


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


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.