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GM everyone. This is 2036, the newsletter that brings you the best of Web 3 and crypto in 3min/day.
Venture capitalists own over $5 billion worth of cryptocurrencies.
And because blockchains are 100% transparent, we can follow the money.
What are their biggest positions? Whereās the smart money going?
Letās dig in.
Weāll even leave a little bonus at the end š
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Thereās a famous Notion document circulating in crypto with a list of the biggest venture capitalists in the space. Donāt tell anyone - but you can find it here š¤«
As it turns out, some of the wallets of these VCs have been made publicā¦ so we know what theyāre buying and selling and holding onto for dear life.
We dug out the biggest ones. Here they are:
1/ Paradigm Capital - the numero 1
Paradigm Capital is like the kid everyone envies in school: funny, attractive, and super smart.
They hold over $350 million of on-chain assets divided roughly as:
55% in Ethereum
45% in Lido, a staking platform for Ethereum, Solana and Polygon (though letās be honest, mostly for ETH)
Theyāre betting big on ETH, and if you want to know why we agree - read this.
2/ a16z - the golden child of tech
a16z is where all the older, smart kids go.
It was founded by:
Marc Andreessen - the guy who pretty much invented the Web browser and kicked off the 2000s tech bubble
Ben Horowitz - the fella who (also) wrote The Hard Thing About Hard Things.
In short, theyāre supernerds.
Theyāre the biggest VC in the world with $35 BILLION in assets under management.
In the wallets we know, 94% of their crypto assets are held in $UNI - the governance token of Uniswap.
They also own a bunch of other digital assets and private investments:
Like Balaji Srinivasan used to say: āassume Iām invested in everythingā
Dragonfly is one of the most famous independent VCs in the space.
Itās managed by Haseed Qureshi, who has some pretty good metaphors on crypto and a pimping Twitter presence.
Currently, they hold over $150 million on chain, split up roughly between:
30% Lido ($LDO - seems to be a theme here)
30% stablecoins
15% $ETH
15% Bitget ($BGB)
5% Frax ($FXS)
5% Ribbon Finance ($RBN)
BONUS: 4/ Arthur Hayes - the OG crypto trader
Arthur Hayes is one of our favorites here at 2036.
Heās:
the co-founder of Bitmex
the youngest African American crypto billionaire in history
an OG crypto trader
a writer on Medium when heās feeling it
A.k.a the guy knows his shit. When Arthur speaks, the world listens.
Luckily for us, Arthurās got eyes for one coin only: $GMX.
At least, thatās what we can see online. He tweets about it at least once a day too. He also recently sold his large $LDO position.
We wouldnāt be surprised if he also owns a bunch of bitcoin. But heās been on the $GMX train from $16 to $73 - and has given no signs of stepping off anytime soon.
š Task
Earn $15 in BTC for opening a bitcoin wallet
Todayās task is simple: open a bitcoin wallet and send us your address to enter a raffle to win $15 in BTC (bitcoin).
And if you already have a wallet, you can submit that too.
If youāre looking for wallet recommendations, here are the best options out there:
For simplicity and security: Coinbase
For desktop: Electrum
For Android: Samourai
For iPhone: Blockstream Green
For a web wallet: BitGo
For privacy nerds: Joinmarket
For security nerds: Casa
Step 1: Create a bitcoin wallet if you donāt already have one
Step 2: Send us your public BTC wallet address by filling out this form
Just like last Friday, weāll tally all the participants in a google sheet and mathematically choose a winner at random whoāll receive $15 in BTC.
For transparency, the sheet will be viewable by all and sent out to you in Fridayās email.
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