No Chain No Gain

No Chain No Gain


Cryptocurrencies, which sit at the heart of blockchain technology, have taken the world by storm. We believe the potential of cryptocurrencies goes beyond the hype by fundamentally changing the way people perceive trust and exchange value. At first, it was Bitcoin that made it possible to transfer value without an intermediary overseeing transactions. Today, the back-bone of the burgeoning Web 3.0 infrastructure is taking shape, guided by nimble teams with a vision to disrupt antiquated financial infrastructure and re-shape traditional business models.

Complexity and a lack of understanding led regulators, institutions and everyday people to dismiss cryptocurrencies as scams, pure speculation and a medium of exchange for illegal activities. However, the reality is that there is huge potential and utility in cryptocurrencies. Distributed decision-making, near-instant and frictionless transactions, full auditability, and negligible costs have the potential to reshape the way we exchange value, the same way that the internet changed the way we interact with each other.

The multitude of tokens, the variety of use cases and the versatility of the underlying economic models of tokens bring about real benefits to token holders. Taking the classic example of Bitcoin, the rewards that Bitcoin miners earn by securing the network halves every 4 years, continuously limiting the creation of new Bitcoins, leading to supply shocks that drive price appreciation. More recently, the emergence of Decentralised Finance (De-Fi) applications made it possible for token holders to earn yield on their tokens by locking them to secure the network, lend and provide liquidity for traders, as well as use them as collateral to mint other assets.

As with any nascent industry, extreme volatility is the status quo. Our exposure to the cryptocurrencies market is risk-adjusted and focused mainly on leading public companies with strong competitive positioning.

Members of the Investment Committee are long term advocates of blockchain technology, bringing their expertise to identify attractive investment opportunities in this nascent industry. Adoption is happening at pace amongst individuals and institutions. There are now more than 100 million people owning cryptocurrencies and using blockchain applications, and we believe the pace of adoption will continue. Counterintuitively, we believe the much feared regulatory review on the sector represents an overall positive catalyst for the development and growth of this industry, removing uncertainty and attracting institutional investments.

All investments have the potential for profit and loss and your capital may be at risk. Past performance is not indicative of future results.

This information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision.

No Chain No Gain


Cryptocurrencies, which sit at the heart of blockchain technology, have taken the world by storm. We believe the potential of cryptocurrencies goes beyond the hype by fundamentally changing the way people perceive trust and exchange value. At first, it was Bitcoin that made it possible to transfer value without an intermediary overseeing transactions. Today, the back-bone of the burgeoning Web 3.0 infrastructure is taking shape, guided by nimble teams with a vision to disrupt antiquated financial infrastructure and re-shape traditional business models.

Complexity and a lack of understanding led regulators, institutions and everyday people to dismiss cryptocurrencies as scams, pure speculation and a medium of exchange for illegal activities. However, the reality is that there is huge potential and utility in cryptocurrencies. Distributed decision-making, near-instant and frictionless transactions, full auditability, and negligible costs have the potential to reshape the way we exchange value, the same way that the internet changed the way we interact with each other.

The multitude of tokens, the variety of use cases and the versatility of the underlying economic models of tokens bring about real benefits to token holders. Taking the classic example of Bitcoin, the rewards that Bitcoin miners earn by securing the network halves every 4 years, continuously limiting the creation of new Bitcoins, leading to supply shocks that drive price appreciation. More recently, the emergence of Decentralised Finance (De-Fi) applications made it possible for token holders to earn yield on their tokens by locking them to secure the network, lend and provide liquidity for traders, as well as use them as collateral to mint other assets.

As with any nascent industry, extreme volatility is the status quo. Our exposure to the cryptocurrencies market is risk-adjusted and focused mainly on leading public companies with strong competitive positioning.

Members of the Investment Committee are long term advocates of blockchain technology, bringing their expertise to identify attractive investment opportunities in this nascent industry. Adoption is happening at pace amongst individuals and institutions. There are now more than 100 million people owning cryptocurrencies and using blockchain applications, and we believe the pace of adoption will continue. Counterintuitively, we believe the much feared regulatory review on the sector represents an overall positive catalyst for the development and growth of this industry, removing uncertainty and attracting institutional investments.

All investments have the potential for profit and loss and your capital may be at risk. Past performance is not indicative of future results.

This information does not constitute any form of advice or recommendation and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision.

Pynk One Ltd is a company registered in England and Wales (No. 12940786) with the registered office at 20-22 Wenlock Road, London, England, N1 7GU.

Thesis Portfolio is the trading of Pynk One Ltd. Pynk One Ltd (FCA reference no. 942958) is an appointed representative of WealthKernel Limited (FCA reg no. 723719), which is authorised and regulated by the Financial Conduct Authority.

Investing involves risk to your capital. Past performance is not an indication of future results; the value of your investments can go down as well as up, and you may get back less than you originally invested. The information contained herein does not constitute investment advice or investment research and should not be relied upon to make any investment decisions. References to specific assets or securities are included for illustrative purposes and should not be understood as an endorsement or a recommendation to engage in investment activities.

Please invest aware.