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Spencer Bogart

General Partner

Blockchain Capital
SeedSeries ASeries BInfrastructureDeFiBitcoin

Investment Thesis

Broadly focused crypto investing. One of the longest-tenured crypto VCs.

What Excites Them

Cycle-aware investing, sustainable business models, infrastructure

What They Pass On

Projects that only work in a bull market

How to Pitch

Come with a differentiated thesis and understanding of crypto cycles.

Key Frameworks

Cycle-Aware Investing

Position for macro crypto cycles: accumulate in bear, deploy in early bull, trim in euphoria

Notable Writing

The Case for Bitcoin as a Reserve Assetresearch

Bitcoin's properties make it suitable for corporate and sovereign reserve allocation.

Bitcoin is a Demographic Mega-Trendessay

Younger generations overwhelmingly prefer Bitcoin, creating an unstoppable adoption curve.

Podcast Appearances

A Decade of Crypto VCUnchained
crypto VChistorycycles
Bitcoin as a Reserve AssetWhat Bitcoin Did
Bitcoin reserveinstitutional adoptionBlockchain Capital

Key Quotes

Bitcoin is a demographic mega-trend driven by generational preference.

Blockchain Capital

Background

General Partner at Blockchain Capital. Previously VP of Research at Blockchain.com.

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