July 30 – August 6, 2019 | Bitcoin Catalysts, China Softening & More Crypto News

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

Report Highlights Nearby Catalysts for Bitcoin Prices

August 1 – Delphi Digital, a digital assets research firm, has outlined several current trends in the global economy that could drive a “perfect storm” for the price of bitcoin. In their latest report, Delphi Digital notes that factors relating to monetary easing, global economic slowdown, and the “digital gold” narrative surrounding bitcoin could be nearby catalysts for the price of bitcoin. “The rising risk of currency devaluation, especially among reserve currencies, is a longer-term catalyst that should propel BTC higher along with gold,” said the report. “The Fed, ECB, BOJ, PBOC, and many others are now preparing market participants for more rate cuts and additional stimulus measures as they attempt to keep the current economic expansion going.” The report also delves further into the unique properties of bitcoin, such as its deflationary supply schedule and lack of centralized control. “There are only a handful of assets that largely sit outside the purview of any single government, so the demand for such non-sovereign assets could be even greater in the decades to come depending on how the effects of unconventional monetary policy shake out.”

Read the full article from Forbes here.

Read the full research report from Delphi Digital here.

China’s Tough Stance on Cryptocurrencies Appears to be Fading

August 5 – Jeremy Allaire, the co-founder and CEO of the crypto financial services firm Circle, has noted in an interview on CNBC that China is starting to back off from its tough stance on cryptocurrencies. Back in 2017, China had banned initial coin offerings (ICOs) and shut down trading on several cryptocurrency exchanges. However, with new digital currencies such as Facebook’s Libra gaining worldwide interest, the country may be looking to re-join the movement. Just last month, a court in China legally recognized bitcoin as a form of digital property. Shortly after the court case, the state-owned Bank of China began marketing bitcoin through a new infographic. “There is a lot of Chinese national participation in this market,” said Allaire. “We have been seeing, from my vantage point, a softening in the Chinese stance towards crypto.”

Read the full article from CNBC here.

Donald Trump and Steve Bannon Have Opposing Views on Cryptocurrencies

August 5 – The former White House chief strategist Steve Bannon has taken an opposing stance on Donald Trump’s views on cryptocurrencies. In a twitter post last month, Donald Trump stated that he “wasn’t a fan of cryptocurrencies” and that the US dollar is “by far the most dominant currency anywhere in the world, and it will always stay that way.” Despite his close ties with Trump, Bannon has recently announced that he was a buyer of bitcoin throughout late 2018, stating he had “enough courage” to buy it all the way down. Bannon helped create and manage the “alt-right” political news site Breitbart and used it as a medium for supporting Trump’s political campaign back in 2016. “[Bitcoin and cryptocurrencies] could be a very important part going forward, particularly in this global populist revolt,” said Bannon.

Read the full article from Forbes here.

Bitcoin Becomes a “Safe Haven” as Global Equities Pull Back

August 5 – Investors have found a new place to hide during escalations in the trade war between the US and China, moving into bitcoin on Monday as global equities markets paired losses. Most leading cryptocurrencies ticked higher at the start of the trading week, with bitcoin gaining almost 15% from last Friday and litecoin gaining over 5%. This isn’t the first time investors have flocked to bitcoin and cryptocurrencies during trade war tensions. “It definitely appears to be acting somewhat like a safe haven,” said Brad Bechtel, the head of foreign exchange at Jefferies LLC. “When markets are calm and rallying, then Bitcoin sort of falls by the wayside, but every time we see turbulence in the market and it starts to sell off, you see Bitcoin and other safe-haven assets rally”.

Read the full article from Bloomberg here.

Litecoin Miners Unfazed by Halving as 97% of Pre-Halving Hash Rate Still Mining

August 5 – The Litecoin blockchain has officially halved its crypto mining rewards on Monday. The long-awaiting halving event of Litecoin triggered at its pre-determined block height of 1,680,000 blocks, occurring on 10:16 UTC on Monday. “When the mining rewards get cut in half, some miners will not be profitable and they will shut off their machine. If a big percentage does that, then blocks will slow down for some time,” said Charlie Lee, the creator of Litecoin. Despite the early warning, the Litecoin network appeared to be unfazed by the reward halving, completing 504 blocks in just 21.65 hours, compared to its usual 21 hours every 504 blocks. “504 blocks have been mined since the halving. This is 1/4 of the way to the next diff change. 21.65 hrs has elapsed since the halving. Normally on average it takes 21 hrs for 504 blocks. This means 97% of pre-halving hashrate still mining LTC,” said Lee.

Read the full article from CoinDesk here.

3iQ Bitcoin Trust (Class A) : NAV as at August 2, 2019

Underlying cryptoasset prices sourced from Bloomberg.

3iQ Global Cryptoasset Fund (Class A): NAV as at August 2, 2019

Underlying cryptoasset prices sourced from Bloomberg.View charts and more fund data at here.

3iQ Corp. (“3iQ”) is the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities which permit 3iQ to manage a multi-cryptoasset investment fund available to Canadian accredited investors. 3iQ provides accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

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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.