Incrementum年第3季度——顾问委员会呼叫转接（英）

www.incrementum.li 1 Minutes of the Advisory Board Meeting September 13th, 2024 The Grand Part of Bitcoin’s Current Halving Cycle CLICK TO WATCH THE VIDEO ON YOUTUBE www.incrementum.li 2 Key Take Aways: • Bitcoin's volatility remains a key topic, with opinions differing on whether it will decrease as the asset matures. In contrast, gold's physicality contributes to its stability. • Combining Bitcoin and gold in a portfolio makes for excellent risk-adjusted metrics. • We are now entering the part of Bitcoin’s four-year halving cy-cle when large gains have historically been seen. • The often misunderstood Stock-to-Flow model remains an ex-cellent metric in predicting Bitcoin's price trajectory. • Although institutional adoption of Bitcoin seems slow, signifi-cant shifts in sentiment, especially among portfolio managers, are happening. • More nation-state adoption of both gold and bitcoin seems im-minent as game theory plays out and state debt levels spiral out of control. www.incrementum.li 3 Biography of our special guest: Chris Kuiper • Chris Kuiper is the director of Research at Fidelity Digital Assets. He brings extensive ex-perience in financial analysis and valuation to his role. • Before joining Fidelity Digital Assets, he served as Vice President of Equity Research at CFRA, conducting fundamental analysis and valuation assessments within the consumer finance, capital markets, and REITs sectors. • His career includes roles as an analyst for a large-cap value fund, a fundamental analyst at Calamos Investments, and a credit analyst at TCF Bank. • In addition to his industry experience, Chris was a research fellow at the Mercatus Center at George Mason University. • As a Chartered Financial Analyst (CFA), Chris offers invaluable insights into the evolving landscape of digital assets. www.incrementum.li 4 Biography of our special guest: Plan B • Plan B is a distinguished Bitcoin analyst and the creator of the renowned Stock-to-Flow model. • Plan B published his Stock-to-Flow model in March 2019, when the Bitcoin price was below $4,000. • This model has gained significant attention and credibility within the Bitcoin community. • Despite maintaining anonymity, Plan B has had a substantial impact on the discussion sur-rounding Bitcoin, offering valuable insights that both investors and industry experts highly regard. • His contributions on X (formerly Twitter) and his analyses have significantly influenced the discourse on Bitcoin. • In addition to following him on X, we highly recommend his monthly updates on Bitcoin on his YouTube channel, where he discusses trends and developments across various indica-tors related to the Bitcoin price. www.incrementum.li 5 Mark Valek Welcome to our Incrementum Advisory Board meeting for Q3 2024. First of all, Ronnie is in the US, so I’m doing this by myself today with two very special guests. We are joined by Plan B and Christopher Kuiper, and today