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.
We wrote this 2023 year in review during the first week of March 2024. It has been a busy end of last year and start of the new year as we have already finalized four new investments between Q4 2023 and today. In this year in review we will update you on the progress of our portfolio companies; outline some of the highlights, lowlights, and our learnings of 2023; and look forward to what we expect from the remainder of 2024.
In January 2023, developer Casey Rodarmor found a way to store data on the BTC blockchain that circumvents the intended limitation set by the protocol developers. He created a protocol called Ordinals, where digital artifacts (think NFTs) can be inscribed to an individual satoshi. Since then, the BTC network has seen nearly 10 million inscriptions created, causing yet another schism in the BTC community over the following two questions…
While 2021 was a year of “soaring asset valuations for both publicly traded crypto assets and private equity,” 2022 was a year of collapse, contagion, and even criminal complaints against companies previously regarded by our peers as “blue chip.” In this 2022 year in review, we will dive into previous trends that are still developing, new trends that emerged, updates on companies in our portfolio from our Fund I, and updates from our recently launched Fund II.
