Trader Jason Huang's Investment Philosophy and Market Insights

Jason Huang previously worked at Huaxing Capital and Qiming Venture Partners, later being responsible for domestic investments at the family office of Charles Cai. He first came into contact with cryptocurrency in 2017, but it wasn't until 2020 that he delved deeper into the field. Jason was attracted by the "penetration rate" logic, believing that the global penetration rate of cryptocurrency would grow from the then 100-200 million people to 2 billion, and that this process could happen rapidly.

In 2023, Jason founded his own fund NDV, entering the market at around $29,000 for Bitcoin, achieving over 4.3 times return within 20 months. His investment strategy is relatively simple, mainly focusing on institutional penetration.

Investment Strategy

1. In 2023, Jason mainly invested in GBTC, taking advantage of its discount to Bitcoin to obtain excess returns.

2. After the ETF was approved, he turned to crypto-related stocks and ultimately chose MSTR. Jason believes that simple logic is easier to build consensus, especially at the stage when institutions are just beginning to understand cryptocurrencies.

3. Jason believes that large funds are most concerned with assets that are simple and easy to understand, as well as having good liquidity. He predicts that in the future, institutions may pay more attention to cryptocurrencies with good liquidity and large market capitalization, such as Bitcoin, XRP, and SOL.

Market Forecast

1. Jason expects the Bitcoin bull market top to be around $150,000. He believes that an additional $50-100 billion in capital inflow is needed to reach this level.

2. Potential big buyers may include state governments in the United States, with each major state possibly investing around $2 billion.

3. Jason suggests paying attention to the macro on-chain data provided by Twitter @Murphychen888.

4. He believes that in a market environment dominated by the United States, key event dates are usually announced in advance, giving market participants ample time to think.

Future Trends

1. Jason predicts that the cryptocurrency market will no longer follow a four-year cycle, but will gradually move towards being more like the stock market.

2. He predicts that various cryptocurrencies will gradually form their own independent narratives and trends, no longer rising and falling in sync with Bitcoin.

3. Jason believes that the future Trump administration may redefine tokens, allowing for token dividends and buybacks, which would make the crypto market more like the "stronger getting stronger" model of the U.S. stock market.

Strategy for Choosing Small Coins

Jason's small cryptocurrency selection strategy is very simple: only choose tokens from founders he knows. He believes that as long as the founder continues to work and grow, the investors' losses are at most opportunity costs.

Personal Growth Advice

1. Jason recommends reading "The Road Less Traveled" to learn to honestly face your own mistakes.

2. He suggested practicing, iterating, and reviewing in trading, recording the reasons for each trade.

3. Jason recommends paying attention to the trader "Lunch", believing he has a deep understanding of cryptocurrency.

4. FC shared his method: establishing a "Zero Fund" and a "Ten Times Fund" to maintain sensitivity to the market through actual investments.

Overall, Jason emphasizes the importance of simple and understandable investment logic, paying attention to institutional capital trends, as well as the importance of continuous learning and self-reflection. He believes that the cryptocurrency market is maturing and will become more diversified and independent in the future.