Both gold and bitcoin are deemed to protect investors from inflation. The main difference is that bitcoin thrives during risk on conditions, whereas gold prefers risk off. In this regard, bitcoin has much in common with industrial commodities and financials.
Charlie will cover the current macro environment, and show how gold passed the baton to bitcoin in the late summer, as soon as the economy showed signs of rebounding. He will cover his gold valuation and regime models and the outlook for real rates. He will then dive into bitcoin metrics, show valuation models, the network growth and key supply metrics along with institutional fund flows. Finally, he will show how bitcoin and gold work together to provide an inflation hedge in both risk on and risk off conditions.
Charlie Morris is the chief investment officer at ByteTree Asset Management (BTAM) and founder of ByteTree.com. He has 23 years’ experience in fund management, where he has built a reputation for managing actively managed, multi-asset portfolios, with an emphasis on efficient diversification and risk management. Although well versed in traditional asset classes, Charlie is best known for his expertise in alternative assets, notably gold and bitcoin.
In previous roles, Charlie was the head of Multi Asset at Atlantic House Fund Management until June 2020, where he managed Total Return Fund. At the time of his departure, his fund ranked 1st out of 47 funds in the Trustnet multi-asset, absolute return sector. Before that, he was the Chief Investment Officer at Newscape (2016 to 2018) and the Head of Absolute Return at HSBC Global Asset Management (1998 to 2015) where he managed $3bn of assets.
Prior to fund management, Charlie was an officer in the Grenadier Guards, British Army. Charlie has been the editor since 2015 of the leading UK investment newsletter, The Fleet Street Letter (est 1938). While not working, he can often be found somewhere in the North Sea.