• bitcoin

    Bitcoin (BTC)

    $ 5,581.00 5.51%
  • ethereum

    Ethereum (ETH)

    $ 174.54 2.16%
  • ripple

    XRP (XRP)

    $ 0.325296 0.03%
  • stellar

    Stellar (XLM)

    $ 0.112801 1.12%
  • eos

    EOS (EOS)

    $ 5.31 2.11%

Hedge Fund

Short strategy helped Multicoin Capital post solid 2018 results

Quick Take

  • Multicoin Capital returned -32.9% in 2018, while Bitcoin and the Hold 10 Index returned -73.6% and -79.2%, respectively
  • Multicoin’s relative success was bolstered by short positions in $LTC, $ETC and $XRP
  • $EOS was Multicoin’s single largest “big loss” in 2018
  • Multicoin sees continued pressure on many cryptocurrencies in 2019 due to selling pressure and 51% attacks
  • Multicoin is optimistic in 2019 for the growth of Layer 2 solutions and decentralized finance (DeFi)
  • Multicoin: the decentralization of our institutions will pave the way for innovation that will create $100T of value.

The Block can reveal exclusively that Multicoin Capital, the crypto hedge fund founded in 2017 by Kyle Samani and Tushar Jain, held up well in a brutal 2018 crypto market. According to the “Multicoin Capital 2018 Annual Letter,” a document that The Block received, Multicoin’s performance beat the relevant indexes:

The Fund’s inception was October 1, 2017.