I first met Unbounded Capital partners Dave and Zach while we all lived in the Bay area in 2018 while I was running a monthly Bitcoin SV meetup in San Francisco. As someone fully entrenched in Bitcoin technology for almost 3 years now, I constantly evaluate emerging products, services, and businesses I see building on Bitcoin SV.
2021 was an exciting year in the cryptocurrency and blockchain space which brought soaring asset valuations for both publicly traded crypto assets and private equity. Unbounded Capital believes the strong foundations laid in Bitcoin SV in 2021 will support enormous value creation in 2022 and beyond.
Most investors learned of Bitcoin during its 2017 bull market, when BTC moved from around $3,000 per coin to $20,000 per coin in a matter of months. After this, it became a mainstay topic of discussion on popular investment outlets like CNBC. The discussion surrounding the fundamental value proposition on these outlets typically included some version of the idea of “digital gold”. The digital gold value proposition suggests that bitcoin is the world’s first scarce digital asset.
Is Bitcoin the future or a bubble ready to pop? Between 2010 and 2017, early speculators made quick fortunes with eye popping 1,000,000x plus returns. In December 2017, bitcoin, trading as BTC, approached $20,000 per coin, achieved a market capitalization of over $320 billion, and became a daily topic of discussion on CNBC and other financial news outlets. Today, as BTC hovers around $8,000, technologists, speculators, and now institutional investors are waiting to see what’s next, many anticipating another, even bigger, bull market as more people become familiar with and invest in the technology.
At Unbounded Capital, we believe Bitcoin as BSV will fundamentally change the nature of internet applications. We believe that the businesses which make building new or transitioning old applications to a Bitcoin based architecture are some of the best short and long term investment opportunities in all of Crypto and the broader economy. Of all of these businesses, we think Microsoft/Snapchat alum Brenton Gunning’s Run leads the way in combining innovative design with a savvily practical emphasis on outstanding user experience.
