What do you do as a sell-side analyst when you write the seminal research report on bitcoin? You join a new type of venture capital firm that invests solely in the blockchain ecosystem.
Today’s guest is Spencer Bogart, head of research at Blockchain Capital, which has made dozens of investments in blockchain. Bogart was previously at Needham & Company, where I first read his work on the rise of bitcoin as an asset class.
We talk about the transition from the sell-side on Wall Street to venture capital, and how his experience impacts his research. We also discuss his newest fund, which was funded in its own cryptocurrency, BCAP. This form of investing, still really just an interesting experiment, could potentially change the mechanics of investing in private companies.
You can listen to more episodes of the Tearsheet Podcast, and other fintech shows, on the BankNXT podcast page. Enjoy!
– This Tearsheet podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Image by Kseniia Shvets, Shutterstock.com