December 24 – 30, 2018 | Bitcoin Turnaround, UFC Partnership & More Crypto News

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

3iQ Advisor: Bitcoin Protocol Development Could Help Fuel Turnaround

December 29 – Francis Pouliot, a Canadian Bitcoin entrepreneur and 3iQ Corp. advisor, believes that Bitcoin could be undervalued and its price will recover as developers continue to build on its protocol and individuals who support the cryptocurrency remain strong. Pouliot notes that over the 10-year history of Bitcoin, the cryptocurrency has survived numerous drawdowns that exceeded the total decline seen through 2018. Pouliot also believes that numerous cryptocurrency-focused hedge funds have emerged over the last several years with intent to hold onto their Bitcoin as a long-term investment. By accumulating Bitcoin, the circulating supply of Bitcoin available to the public has been reduced. Bitcoin will only ever have a maximum supply of 21,000,000 coins, and at the time of writing, around 17,451,600 have been mined since its inception.

“The way I see the price of Bitcoin: there are fundamental psychological, economics and social tenants that seem to create a similar pattern. Price rises fast, crashers down but at higher ladder with the new skin in the game added as value ‘hodlers’ is discovered by the market. As an investor, my focus is on the tail of distribution of the Bitcoin network/ecosystem participants. Top new people active with skin [and] soul in the game, momentum, influence, resources, commitment, ideology, full nodes, sovereignty. It is People that give Bitcoin its value.”

Read the full article here.

PwC: More Institutions Coming to Crypto in 2019

December 26 – Henri Arslanian, the Asia Fintech Lead of PricewaterhouseCoopers (PwC) Hong Kong, believes that many new institutional players will be entering the crypto industry in 2019. Arslanian has a positive outlook for crypto throughout 2019, mostly stemming from increased regulatory clarity in the industry and increasing institutional support. Notably, Arslanian believes that “more big banks” will seek to enter the space in 2019, either by starting their own blockchain and crypto solutions, or through partnerships and other direct investments.

PwC Hong Kong has offered bitcoin as a means of payment for their consulting and auditing services since late 2017. The parent company PwC is an international network made up of smaller companies that provide auditing and consulting services to a variety of business industries. The major stock operator Nasdaq has reported that they will be released bitcoin futures in the first half of 2019, and the Intercontinental Exchange (ICE) expects to release their “Bakkt” digital asset platform on January 24, confirming Arslanian’s outlook for 2019.

Read the full article here.

Litecoin Foundation Partners with UFC

December 27 – The Litecoin Foundation has recently partnered with Ultimate Fighting Championship (UFC) in an effort to increase awareness and adoption for the world’s second oldest cryptocurrency. The UFC is one of the most well-known mixed martial arts organizations in the world, with tens of millions of annual audiences. As part of the deal, the Litecoin logo was displayed in the octagonal fighting arena during the title fight at UFC 232. The logo was featured during the rematch fight between the former UFC light heavyweight champion Jon Jones, and the light heavyweight fighter Alexander Gustafsson.

“With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream,” said the Lightcoin Foundation. The Litecoin Foundation is a not-for-profit foundation which aims to promote adoption of the Litecoin cryptocurrency. The foundation said that it hopes to continue its relationship with the UFC over the long term.

Read the full article here.

Bitcoin a “Valuable Financial Tool” for Liberty and Freedom

December 28 – A leading American newspaper Time has released an article covering Bitcoin and its liberating potential for people in economically stressed regions such as Venezuela. Notably, the article writes that “speculation, fraud, and greed in the cryptocurrency and blockchain industry have overshadowed the real, liberating potential of Satoshi Nakamoto’s invention.” According to Alejandro Machado, a cryptocurrency researcher for the Open Money Initiative, total fees for sending wire transfers from the United States to Venezuela can get as high at 56%. Some people from Venezuela have been receiving wire transfers in Columbia, then withdrawing their cash and bringing it back to Venezuela. The article states that this “can take far longer, cost more, and be far more dangerous than the Bitcoin option.”

The article states that Bitcoin is a good way for people to protect themselves from rapid fiat currency inflation. Venezuela’s inflation rate has been projected to hit as high as 1,000,000%, and other countries such as Zimbabwe have also suffered rapid inflation rates. The article also notes that Bitcoin is advantageous as it does not allow central governments and banks from censoring transactions or potentially freezing accounts.

Read the full article here.

India Looks to Legalize Cryptocurrencies Through an Interdisciplinary Committee

December 26 – According to an article published by the New Indian Express on Wednesday, there has been an interdisciplinary committee set up by the Indian government to investigate cryptocurrencies. The committee is reportedly not in favor of an outright ban of cryptocurrencies. Earlier this year, the Indian government had talked about barring individuals from investing in cryptocurrencies. “We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalized with strong riders. Deliberations are on,” said an anonymous senior official who was present at the committee’s meetings.

The Indian government had set up this committee back in April 2017, mostly to examine the existing legal frameworks that are related to cryptocurrencies. The committee is swarmed with suggesting new legal measures to handle cryptocurrencies, such as issues surrounding consumer protection and money laundering. Some notable members include representatives from Indian government departments for tax and the economy, in addition to members from the central bank and other government agencies.

Read the full article here.

3iQ Global Cryptoasset Fund: Price as at December 28, 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.

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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.