PREDICTIONS FOR THE NEWYEAR
Some of these backdoor bitcoin options have had similar hidden premiums. For example, back in August 2020, GDLC had a ridiculous asset premium of nearly 400% – one share of GDLC cost $27.30 but entitled the holder to only $7.30 worth of bitcoin. Today, the premium is down to “only” 24%... which is still quite high, in my opinion. GBTC’s premium is right around 18% – one $45 share gets you exposure to $38 worth of actual bitcoin. It’s harder to calculate MSTR’s bitcoin premium – as each MSTR share is also an ownership share of a software company – but most folks estimate a premium in the 20% to 30% range. You can consider these premiums as the cost of not having to remember a password. (Hey, nothing in life is free.) I fully expect that 2021 will be the year that one-click “backdoor bitcoin” options will proliferate. There are already more exchange- traded funds on the board and coming down the pipe. And, as more and more backdoors open, I expect you’ll naturally see those rich premiums drop down. But be on the lookout for new MSTR situations as well. Michael Saylor may be crazy (seriously, check out his Twitter account)... but he also may be onto something. Got a struggling public company? Buy bitcoin. It’ll save your stock and help FOMP sufferers cure their FOMO.
DR. DAVID EIFRIG RETIREMENT MILLIONAIRE
The wheels of a biotechnology revolution have begun to turn, and they’ve been accelerated by the pandemic. The mRNA vaccines represent a truly monumental breakthrough. Now shown to likely be safe and effective, the technology will ramp up. Moderna already has a vaccine candidate for HIV. Moderna and BioNTech both have vaccines that target cancer (though they would be administered after a diagnosis). Understanding the shape of a protein is key to understanding the mechanics of biological processes and drug discovery. Scientists have mapped less than one-tenth of 1% of known structures. But Google’s made a huge breakthrough in the previously insurmountable problem of predicting protein-folding. Previously it took months or years to determine a protein’s structure, a lot of money and equipment, and luck. Google’s AlphaFold can do it by running a computer for a few days. Add to that the long-developing promises of CRSPR gene editing and other breakthroughs, and it’s clear that the biological sciences are set for a big ramp. What’s more, the pandemic has put new
100 January 2021
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