Betting everything on bitcoin, a winning move according to Ten31

Mon 14 Aug 2023 ▪ 7 min of reading ▪ by Luc Jose A.

Bitcoin (BTC) is the leading cryptocurrency in terms of market capitalization. Thanks to its many assets, the digital asset outperforms all its competitors and is the preferred choice of many investors. Convinced of its strong potential, some are choosing to invest exclusively in this cryptocurrency, snubbing all other altcoins. Jonathan Kirkwood’s Ten31 is one such company or investor betting exclusively on the leading crypto. According to one of its founders, this strategy is proving highly successful.

Bitcoin logo

Ten31 and its bitcoin-focused investment strategy

Bitcoin (BTC) is attracting many investors, as well as major companies. MicroStrategy, which is accumulating massive amounts of BTC, is one of the major companies pinning its hopes on this cryptocurrency. The company founded and run by Michael Saylor is known for its huge acquisitions of bitcoins. Last July, the American entrepreneur and businessman announced that his company had acquired 467 bitcoins for $14.4 million. This latest purchase brings the total assets held by the company to over 152 million.

Like MicroStrategy, Ten31, the venture capital firm co-founded by Jonathan Kirkwood, is also betting on the queen of cryptocurrencies. In a recent interview with Forbes, the American entrepreneur opened up about his company and its investment strategy, which focuses exclusively on bitcoin. To prove his interest, Ten31 regularly makes major investments in this digital asset.

“We’ve deployed a bit more than $100 million over the last four years into 30-plus companies within the bitcoin space. This includes vertically integrated miners, whether that’s oil and gas, renewables, co-location, on-grid or off-grid firms or other companies that are building linkages to financial services, like Strike, Unchained Capital and Fold”, said Jonahan Kirkwood.

The American entrepreneur points out that the company does not invest in these structures randomly. All the companies that have benefited from Ten31’s investments take advantage of bitcoin in one way or another. For example, technology company Fold uses the properties of this cryptocurrency to drive customers to its products and services.

Strike, on the other hand, offers instant global finality and settlement using the Lightning Network. This solution is attracting increasing interest from investors and businesses alike.

Bitcoin: the next global reserve asset?

Jonahan Kirkwood’s predictions for the future of bitcoin (BTC) are very promising, and are sure to delight holders of the asset. Asked why the adoption of bitcoin as a means of payment hasn’t really taken off, Mr. Kirkwood says it’s only a matter of time. The entrepreneur is convinced that the flagship cryptocurrency will soon be widely used for payments and will be the world’s next reserve asset.

According to him, the world is currently on the move and has not yet “settled on a global reserve asset”. Jonahan Kirkwood sees this situation as favorable for the queen of cryptocurrencies, as he believes that over the next few decades, the digital currency could be recognized as the world’s reserve asset, which would certainly lead to its mass adoption.

Jonahan Kirkwood also points out that BlackRock’s interest will contribute to the widespread adoption of bitcoin. Indeed, financial giant BlackRock, asset manager Fidelity and other firms have been filing Spot Bitcoin ETF applications with the Securities and Exchange Commission (SEC) in recent weeks.

According to Jonahan Kirkwood, these applications will put an end to the occupational risk dreaded by financial institutions and professional advisors. He says: “Over the last 15 years the mainstream media has classified bitcoin as something that is only used by criminals, for dark markets or money laundering. But now with BlackRock lowering the hurdle for these institutions to be able to come in I think that’s a big signal.”

Venture capital firm Ten31 makes profits by investing exclusively in bitcoin

Will the next halving be favorable to bitcoin?

The halving is an event takes place every four years. Its aim is to reduce the quantity of new bitcoins on the network, but also to reduce the cryptocurrency’s total fixed reserve.

During the halving, miners who register new blocks on the blockchain see their rewards halved. In this case, bitcoin (BTC) miners have received 6.25 bitcoins for each new block since the last halving, which took place in 2020. This remuneration will fall to 3.125 bitcoins at the next halving scheduled for 2024.

Jonahan Kirkwood commented on the impact of the next halving on the bitcoin ecosystem. According to the investor, this event could be favorable for the flagship cryptocurrency. He says that with halving, BlackRock’s possible Bitcoin ETF, the federal funds rate in the second half of the year and the 2024 US elections, the storm should be “perfect” for bitcoin.

Finally, Jonahan Kirkwood recommends that investors keep an eye on Nostr, an open-source, censorship-resistant communications protocol that presents itself as an alternative to many social networks.

The American entrepreneur claims that Nostr has the potential to become successful and established over the next ten years. Investors will be able to use bitcoin to transfer value on the protocol.

Like Jonahan Kirkwood, many analysts and investors remain optimistic about the mass adoption of bitcoin. Some predict an imminent surge in the asset’s price, while others remain hopeful about its widespread use. According to an opinion poll, 70% of Americans believe that 2023 will be the year of bitcoin’s consecration.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.