The Bitcoin Cheat Code with Marty Bent & Grant Gilliam - WBD690

Marty Bent is a Venture Partner at Ten31, founder of the
Bitcoin-focused media company TFTC.io, and Director of Cathedra
Bitcoin, and Grant Gilliam is a co-founder and Managing Partner
at Ten31. In this interview, we discuss investing in Bitcoin and
Bitcoin-associated ventures, including the specifics of investing
in Bitcoin mining.


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VC funds within the crypto space have developed a bad reputation
over recent years. However, Ten31 is an investment fund with a
major difference: it was formed by Bitcoiners dedicated to
supporting Bitcoiners. Whilst obviously being business driven, it
is also mission-driven in supporting companies that are building
infrastructure and bringing utility to the Bitcoin network.


It is therefore a unique source of investment for entrepreneurs
as both sides of the table share the same vision i.e. Bitcoin is
a paradigm-shifting technology that will be the basis of future
economic value. The Bitcoin focus is an explicit feature of the
company: the fund is named after the date of Satoshi’s
whitepaper, whilst the logo is a hat tip to the proof of work
diagram within it.


Since the fund's inception, Ten31 has directed more than $100
million in equity to companies building on Bitcoin and the
Lightning Network. Grant Gilliam and Marty Bent set out their
experience of investing in Bitcoin companies: the challenges, the
benefit of valuing such companies in Bitcoin, and the importance
of having Bitcoin on the balance sheet.


The discussion also focuses on the investment opportunities
within the Bitcoin mining industry. Mining has a low barrier to
entry, making it an attractive business for many. Further
opportunities are developing through the convergence of the
energy sector and the bitcoin mining industry, which is happening
in real-time. Ten31 believe that those Bitcoin mining companies
with the right calibre of people will accrue significant value.


 


This episode’s sponsors:


Iris Energy - Bitcoin Mining. Done Sustainably
Ledn - Financial services for Bitcoin hodlers
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence