The views expressed in this commentary are the views of the author and do not necessarily reflect the views of Ignite500, GP & LLC (together with its affiliates, “Ignite500”). The views expressed reflect the current views of the author as of the date hereof from sources believed to be reliable.

Ignite500 undertakes no responsibility to advise of any changes in the views expressed herein. No representation or warranty is made concerning the accuracy of any data compiled herein. In addition, there can be no guarantee that any projection, forecast,  or opinion in these materials will be realized. Certain information contained in the commentary discusses general market activity, industry or sector trends, or other broad-based economic, market, or political conditions and should not be construed as research. The views expressed herein may change at any time subsequent to the date of issue hereof. These materials are provided for informational purposes only, and under no circumstances may any information contained herein be construed as investment advice or an offer to sell or a solicitation of an offer to purchase (or any marketing in connection thereof ) any interest in any investment vehicles managed by Ignite500. The information contained herein does not take into account your particular investment objectives, financial situations, or needs, and you should, in considering this material, discuss your individual circumstances with professionals in those areas before making any decisions. Bitcoin investments can be highly illiquid, are speculative, and may not be suitable for all investors. Such investing is only intended for experienced and sophisticated investors who are willing to bear the high economic risks associated with such an investment. Investors should carefully review and consider potential risks before investing. Certain of these risks may include:

• loss of all or a substantial portion of an investment, including because the further development and acceptance of Bitcoin is subject to a variety of factors that are difficult to evaluate; the slowing or stopping of the development or acceptance of Bitcoin would adversely affect a Bitcoin investment;
• supply and demand for Bitcoin can change rapidly and is affected by a variety of factors, including regulation and general economic trends;
• lack of liquidity in that there may be no secondary market for fund investments in Bitcoin and none is expected to develop;
• volatility of returns;
• restrictions on transferring interests in the fund;
• lack of diversification and concentration in Bitcoin as a single asset;
• absence of information regarding valuation and pricing;
• significant actual and potential conflicts of interest that arise in connection with a fund investment in Bitcoin;
• less regulation and higher fees than mutual funds.

Ignite500 may make investment recommendations and decisions that are contrary to the views expressed herein and may sponsor and hold interests in investment vehicles that have holdings that are inconsistent with the views expressed herein.  Interests in investment vehicles are sold only pursuant to such vehicle’s offering memorandum. Prospective investors of any investment should refer to the specific fund’s offering memorandum and operative documents, which will fully describe the specific risks and considerations associated with a specific investment.