Marketer for Institutional Investment strategies
Clients have included Crypto Asset Hedge Funds &
Crypto focused Venture Capital
Bitcoin Investor since 2014
Educational purposes only - Not investment advice
Twitter: @MauryMcCoy Maury@McCoy-Associates.com
What is Bitcoin?
Bitcoin is a SCARCE digital
asset that isn’t controlled or
issued by any government or
Anyone who can access the
Bitcoin network can send or
receive BTC without needing
Bitcoin is a public ledger. That’s it.
• There are no physical
• They are not on your
phone or computer.
• 100,000+ Bitcoin “nodes” run
the Bitcoin software and keep
an identical copy of the ledger.
• The ledger is public. You can
see every balance and every
transaction since day one.
• The ledger is updated every
Sending Bitcoin is like sending email.
Your Public Key is a wallet
address used to receive funds.
It is like your email address.
Your Private Key is used
to prove ownership.
It is like your email password.
To send bitcoin:
- Identify the accounts to send to and from
- Sign the transaction with your private key
- Broadcast it to the Bitcoin network.
What is Bitcoin Mining?
Miners are special nodes that can add to the blockchain ledger.
Miners combine transactions into a “block.” Each block contains:
“Fingerprint” of previous block
~ 1,500 transactions
A random number (Nonce)
If the output starts with 18 zeroes, the block
has been “solved.” The block is added to
ledger & the miner earns 6.25 bitcoins!
Mining turns electricity into bitcoins.
Proof of Work
What gives Bitcoin Value?
For money to have value, it needs to have certain qualities.
e.g. Durability, Fungibility & Uniformity.
Sent anywhere, anytime, 24/7
just like email
25 lbs. per bar
Divisibility 0.00000001 bitcoin Troy ounce
Storage Digital Wallet Safe or vault
Scarcity Only 21 million bitcoins Scarce
Adoption Market Cap $500 billion USD Market Cap $10 trillion USD
What gives Bitcoin Value?
Metcalfe’s Law n2
Over 35m Coinbase accounts
Yale, Harvard, Stanford, MIT
Fidelity, Mass Mutual $100m
Futures Markets – CBOE, CME
PayPal – 26m merchants
Bill Miller, Druckenmiller,
Paul Tudor Jones, Okung
Still < 2% adoption
Chart copyright Timothy Peterson - @nsquaredcrypto
Bitcoin PerformanceBitcoin Gold S&P 500
1 year +304% +24% +15%
2 year +687% +47% +50%
3 year +117% +44% +39%
4 year +2,868% +65% +66%
5 year +6,617% +78% +85%
2013 2014 2015 2016 2017 2018 2019 2020
5,365% -58% 35% 125% 1,331% -73% 95% 304%
1/1/16 - 12/31/20Source: CaseBitcoin.com
Other Cryptocurrencies - Altcoins
Litecoin - LTCEthereum - ETH
BitcoinCash - BCH
Monero - XMR
Filecoin - FIL
Augur - REP
Helium - HNT
Chainlink - LINK
How to Invest
Public Markets: Grayscale Bitcoin Trust (GBTC), Bitwise 10 (BITW)
MicroStrategy (MSTR), Square (SQ), Overstock (OSTK) , PayPal (PYPL)
RIOT (8,000 mining rigs) Hive Blockchain (HVBTF)
Coinbase & Coinbase Pro – Best known
Gemini - Owned by Winklevoss twins
Kraken – Emphasis on security – licensed bank
Binance.US – Cheapest trading, most coins
Cash App (Square), PayPal
ATMs: Over 11,000 Bitcoin ATMs, Coinstar
Taxes: Taxed exactly like stocks.
- Held longer than 1 year = LT Capital Gains.
- If traded for another crypto-asset it is a taxable event.
- If you hold your own coins (not on exchange) make sure
someone can get to your 24 words!
2FA apps: – Google Authenticator, Authy
Whitelisting: – approved addresses
Hardware Wallets: – Trezor, Ledger