21Shares Bitcoin and Gold ETF (ticker BOLD) blends Bitcoin and Gold on a risk weighted basis. Founder ByteTree. Fund manager by trade.
Joined November 2013
- Tweets 12,173
- Following 629
- Followers 9,320
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1,657 Photos and videos
Jun 12
Once they have left the Straits of Hormuz, will they return to pick up more oil?
Jun 12
Tanker-by-tanker analysis exposes who dares use Iran’s Hormuz Lanes — and who hides
lloydslist.com/LL1157451/Tan…
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Charlie Morris retweeted
Jun 12
The next war won't be won by armies, navies or air forces alone.
It'll be won by the country whose 19 year olds can code, whose factories can build drones in weeks not years, and whose grid stays on when someone tries to switch it off.
Industry. Society. Economy. That's the fight now.
We're not ready. And we're not being honest about what getting ready will cost.
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Jun 10
A look at global bitcoin and gold ETF flows since 2021. Bitcoin outflows have been relatively modest despite the price fall. Capital has been resilient, most of which came after the US listings in 2024. 🧵
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Jun 10
Gold outflows even more modest. But consider they weren’t that high to begin with. Only recently exceeded the 2022 high in ounces.
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Jun 10
Bitcoin and gold 90 day flow in $. They have been uncorrected but now both are falling together on a stronger dollar. This feels like a liquidity squeeze, with fundamentals intact for both assets.
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Charlie Morris retweeted
Jun 10
"Investors are ignoring dividend-paying stocks because of their enthusiasm for exciting growth stories.
Despite the huge outperformance of the technology sector over the past several years, the total return of the S&P Dividend Aristocrats index remains substantially higher than Nasdaq’s since the peak of the 1999-2000 technology bubble."
- Richard Bernstein, Head of Macro at Janus Henderson
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Tomorrow's US #CPI is forecast at 4.2%. Russell Napier's research is clear: when inflation tops 4%, equities struggle — and the pattern goes back decades.
This week, @AtlasPulse looks at what the #oil market, $USD, and the divergence between #quality and high-beta stocks are telling us about where we are in this cycle.
Read The Multi-Asset Investor 👇bytetree.com/research/2026/0…
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Charlie Morris retweeted
Jun 8
WHY OIL ISN'T $200 (YET) DESPITE 1 BILLION BARRELS LOST:
- massive refinery run cuts (9Mboed)
-drawdowns: refined product storage crude (SPRs)
-demand destruction of refined products
-"comatose" complacency among buyers
-China not buying
-hedge fund longs exhausted
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Jun 5
Or put it this way…
Jun 4
So basically Bitcoin does this thing every 4 years where the entire market thinks bitcoin is dead because the price gets shitted on over and over and over and then it goes back up and everybody forgets about it and gets mad they didn’t buy when it was getting shitted on.
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Jun 5
Stressful days for bitcoin as we retest the 2026 low. On chain statistics still look good. Sentiment in the dog house. The good times will return!
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Jun 3
Great. But Amazon wasn’t trading at 100x sales in 2005.
If you think SpaceX is a rocket company with an internet business, you're basically valuing Amazon on book sales in 2005.
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Charlie Morris retweeted
Jun 3
I write a short note on Bitcoin on Wednesdays on @ByteTree . Free to read. With the price down, it's an important week. I looked at the ant-bubble, the quantum threat and the energy spike. Not to forget Saylor. 🧵
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Jun 3
I write a short note on Bitcoin on Wednesdays on @ByteTree . Free to read. With the price down, it's an important week. I looked at the ant-bubble, the quantum threat and the energy spike. Not to forget Saylor. 🧵
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Jun 2
Who can recall the days of RORO. Risk-ON, Risk-OFF when asset prices rose and fell together. Today, we have the exact opposite, as implied correlation falls into single digits.
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Jun 1
Oil up doesn’t seem to help.
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Post-pandemic, major sportswear brands have had a rough few years. #Nike's struggles are the headline, but the weakness has been broad.
That's starting to change. #Asics is leading the charge, #adidas is winning the advertising battle, Nike's turnaround is showing promise under a new insider-CEO, #Puma's decline is abating, and #JDSports is following suit.
Green shoots across the board — and a #WorldCup summer to boot.
In the latest Venture update, Charlie and Kit have picked their favourite stock to capture the opportunity. 👇 bytetree.com/research/2026/0…
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May 31
You can tax it as much as you like and set the rules. No need to own it.
May 31
I promised we would fix our broken railways.
Today Southern, Thameslink, Great Northern and Gatwick Express return to public ownership. Run for the public good, not private profit.
This Labour government is putting passengers first.
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