ProChain Capital February 2024 Commentary

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HFA Staff
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ProChain Capital’s commentary for the month ended February 29, 2024.

ProChain Capital increased in value +30.42% in February.

Year-to-date, ProChain has lost +28.95%.

Cryptocurrency investment is a MUST in every portfolio.  

ProChain’s ordinary investor class has just a $100,000 initial investment minimum.

ProChain Capital

ProChain in the News

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1. Adoption

Investment. 

Currency and Use.

  • Ripple made a notable acquisition that will help its efforts to partner with financial institutions to tokenize financial assets.
  • Yuga Labs, a leading NFT creator and owner, announced that it will not support marketplaces that do not comply with royalty payment requirements for creators.
    • ProChain– This is an important and valuable policy that we hope is adopted industry-wide. Although NFTs are currently a niche sector, the future is broad and bright. Establishment and acceptance early-on of a policy of regularly paying royalties to creators whenever a related transaction occurs, will differentiate the NFT marketplace from every other marketplace in existence, encouraging more creation and aligning interests of creators and investors.

3. Public Companies

  • Reddit (NYSE:RDDT), the social media platform that is expected to conduct an IPO shortly, has disclosed that it owns Bitcoin and Ethereum.
    • ProChain– In the wake of the Bitcoin ETF approval, it is increasingly likely that corporations, especially those in the technology sector, will own Bitcoin, creating additional demand for a scarce commodity and providing additional legitimacy to the asset class.
  • MicroStrategy (NASDAQ:MSTR) is exploding in price and growth in the wake of the Bitcoin ETF approval and price appreciation.
  • Mastercard (NYSE:MA) has partnered with a mobile payments app to offer crypto loyalty rewards in Emerging Markets.
    • ProChain– Amid the excitement over price appreciation, we cannot forget the amazing, fundamental changes that cryptocurrency is bringing to the un-banked population of the world, which will continue to gain strength and will eventually bring valuations much higher.
  • Gryphon Digital Mining (NASDAQ:GRYP), having recently gone public, is looking to grow its mining capacity through machine purchases.
  • The surge of fourth-quarter trading led Coinbase (NASDAQ:COIN) to an annual profit.
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The post above is drafted by the collaboration of the Hedge Fund Alpha Team.