Dan Tapiero: Three Key Crypto Investment Categories

Published on
February 19th, 2021
Duration
59 minutes


Dan Tapiero: Three Key Crypto Investment Categories

The Interview - Crypto ·
Featuring Dan Tapiero and Raoul Pal

Published on: February 19th, 2021 • Duration: 59 minutes

Dan Tapiero, founder and managing partner of 10T Holdings, joins Raoul Pal, CEO and co-founder of Real Vision, to discuss some of the crypto investment sectors he is interested in, including blockchain infrastructure, on-ramps, and next generation financial services. Taperio explains his approach to investing in the space and why he is looking to invest in what he considers to be mid-sized, crypto companies worth over 400 million dollars. He explores the benefits of investing into crypto on-ramps such as crypto exchanges and lending and borrowing, pointing out that even when crypto prices are going down, on-ramp type investments still perform. Tapiero believes that investing in blockchain infrastructure, such as bridges from traditional finance to crypto, is a way to get upside exposure to the asset class without necessarily needing to purchase the crypto assets themselves. Filmed on February 17, 2021.

Key Learnings: There are many different ways to approach investing in the crypto space. Tapiero takes the traditional investor approach, primarily investing in businesses rather than holding the crypto assets themselves, and he describes his approach as a “picks and shovels” style investment strategy. This enables the investor to benefit from exposure to the asset class while also reducing the downside risk that comes with holding the tokens themselves.

Comments

Transcript

  • DC
    David C.
    26 February 2021 @ 21:14
    BTC
  • TJ
    Tracy J.
    25 February 2021 @ 13:08
    Great insights!
  • DM
    Douglas M.
    25 February 2021 @ 01:38
    Tapiero looks like the kind of guy who gets in the lane and has an assortment of pump fakes, up and under moves, and jump hooks. You look up and he's got 24 points and 11 rebounds.
  • TM
    Tyler M.
    24 February 2021 @ 05:04
    Good stuff!
  • NS
    Ned S.
    23 February 2021 @ 23:15
    Love Raoul and RV, but the way these guys jerk each other off when they say "we are macro guys" gets fucking old lol
  • MH
    Michael H.
    19 February 2021 @ 18:44
    i think raoul puts on another bracelet every time bitcoin goes up another 1k
    • AH
      Anthony H.
      19 February 2021 @ 23:25
      He's pretty much Thanos and once he collects 'em all BTC will be $250K.
    • WP
      Warren P.
      23 February 2021 @ 19:58
      I thought those were from the all inclusive resort he never seems to leave
  • JR
    Jim R.
    21 February 2021 @ 11:18
    Great interview Raoul, thanks. I love the fact that you are looking outside the box with regard to alternatives to Ethereum and indeed BTC. I respect the fact that Dan was honest and wasn't prepared to speculate due to lack of understanding. It is true that there is a great deal to try and take in, with regard to this space. I understand that I am just another point of noise and who am I and what would I know? Having been in this space for some time wanting answers to all these same questions that I hear you consistently ask, is the exact reason I found Cardano. I have spent a countless amount of hours asking these same questions. Charles Hoskinson of IOG formally IOHK and the brains behind Cardano, has an incredible insight into this entire space and has an equally incredible ability to explain much of this space from a Macro perspective and in lay mans terms. I think ETH and DOT will have its place in this space. But DOT and ETH are never going to replace Wall St, Chicago, London or Tokyo, but I think Cardano can. I have also heard you say many times that the space needs people that can speak the language of the people in the finance world. So if you don't want to speak to Charles the reach out to Frederick Gregaard. He is the current CEO of the Cardano Foundation and a former PWC guy who can indeed speak the right language for the space that you have created for the Real Vision subscribers. I have been following you for some time now and I have long felt you would do yourself and the Real Vision community a genuinely good turn by talking to either of these incredible individuals. Never the less, thank you for what you do and provide to this space. I for one have learnt a great deal from you and your team. Oh and with regard to NFT's, think music industry and let your mind wander for a minute. Anyway, I'm a no body and what would I know. I guess I and many others that value your view feel Cardano is right up your alley! Much respect, Jim Robins
    • CF
      Christian F.
      22 February 2021 @ 14:48
      ADA does not get enough coverage considering it is way ahead. Its so surprising . This tells me that it is still so cheap as the rest of the world is still so far behind. Same with Link
    • PP
      Petar P.
      23 February 2021 @ 09:11
      ADA is super solid. I was actually thinking about Charles and how interesting it would be if Raoul and him sat down and had a chat. Make it happen Mr CEO Kind Regards, Petar
    • LS
      Lemony S.
      23 February 2021 @ 19:08
      I am totally fine speculating with ADA and will, there will be several of these that trend with BTC to the moon.
  • KL
    Kalle L.
    23 February 2021 @ 12:52
    Anyone else finding it funny when they celebrate Chad?
  • MJ
    Matt J.
    23 February 2021 @ 10:54
    Always good to get Dan on.
  • MW
    Matthew W.
    19 February 2021 @ 13:58
    I'm not generally a fan of 'modern art' but I really like that piece behind Dan. Kind of like a cloud and a ribbon catching the sun.
    • AB
      Andrew B.
      23 February 2021 @ 08:31
      James Nares.
  • CC
    Clark C.
    23 February 2021 @ 01:52
    Dan mentioned a RealVision interview with Alex Wizinski (?). I can’t seem to find that one in the crypto section. Anyone know how to find it? Thanks.
    • DT
      Dan T.
      23 February 2021 @ 07:27
      Alex Mashinsky Celsius ceo
  • DV
    Didier V.
    22 February 2021 @ 07:57
    Where to find the celsius security interview Dan talks about on this site?
    • DV
      Didier V.
      22 February 2021 @ 07:58
      Ok, found it
  • LT
    LongVol T.
    22 February 2021 @ 06:55
    Dear Real Vision, I think it's about time to plan the next step. You will democratize finance with your own cryptocurrency.
  • MB
    Michael B.
    21 February 2021 @ 13:29
    Thank you gentleman, great discussion. Dan, sounds like you will end of being the Barry Diller (on line business aggregator) of the crypto world.
  • MB
    Matt B.
    21 February 2021 @ 06:21
    Such a great invetview, well done to Raoul to let Dan run with his content and thoughts, only chiming in to swing the direction at the right time.
  • WS
    William S.
    20 February 2021 @ 21:51
    Finally - an investor who can summarize some of the digital space. Any chance get ARCA analyst along with CIO in whatever order
  • TX
    Ticker X.
    20 February 2021 @ 20:25
    Yea great interview. Lovely work, insightful information especially about DCG.
  • bf
    bill f.
    20 February 2021 @ 19:43
    great interview from a philosophical standpoint. it wouldn't surprise me if btc didn't fall as dramatically in the next down move as because its hard money , the natural tendency is that will be saved
  • SS
    Seth S.
    20 February 2021 @ 18:48
    My 1st video as a new Essential Member. Glad to enjoy the community!
  • JC
    John C.
    20 February 2021 @ 17:58
    RV subs have rights to invest in 10T? :)
  • SM
    Steve M.
    20 February 2021 @ 17:56
    Dan is smart and humble
  • JF
    Jason F.
    19 February 2021 @ 22:08
    Picks and shovels - great analogy.
    • SM
      Suzanne M.
      20 February 2021 @ 17:22
      That one struck me too, got it instantly.
  • SM
    Suzanne M.
    20 February 2021 @ 17:20
    One of my fave crypto videos so far. As Raoul said at the end, the sheer transparency was extremely informative, I was taking notes like crazy, and Dan's humility is very engaging. This touched on so many crypto points I'd been curious about, and I like his investment strategy.
  • TS
    Tejpratap S.
    20 February 2021 @ 16:50
    Very helpful !!
  • cb
    carter b.
    20 February 2021 @ 16:25
    Fantastic as always with Dan
  • SV
    Santiago V. | Contributor
    20 February 2021 @ 15:49
    Great job! Really enjoyed the discussion.
  • CD
    Christopher D.
    20 February 2021 @ 14:56
    Best of luck to DTAP and 10T. Probably a very good way to play the space and will most likely be very successful. I think the issue with crypto as store of value/wealth is that central banks will eventually confront the loss of control in commerce that crypto poses to them and as Jim Rogers says they have the guns. I suspect the PBOC/PRC with the launch of the digital yuan will be the first to decide to intervene meaningfully and start dismantling this to the extent they deem necessary to eliminate any hinderance to the success of the digital yuan. The attractiveness of crypto is that it allows private citizens to attempt to bypass the realities of the world with live in with the inherent issues of governments issuing debt and debasing the fiat currencies we all use daily. Yellen may or may not have the gumption to tighten regulations to a degree that would impair continued development of crypto as a store of value -- perhaps even using the ESG logic as an excuse to intervene. However, the PRC has no problem capitating any threat it sees to the advancement of its own interests. They have big plans for the digital yuan as it will really provide them a great degree of control over the population. Tokenization/blockchain for commerce uses beyond a means as a store of value hold greater promise imho and this fund address that. The quest for store of value immune to the realities of the world is only natural but naive. You cant escape certain things but rather have to live with them and adjust to them. I still think the best way to play this current period is to go long Asian EM equities.
  • RM
    Ryan M.
    19 February 2021 @ 16:12
    Great conversation. Thanks so much, gents. Once caveat though, BlockFi didn't carve out the borrowing and lending space.. Celsius did.
    • AC
      Adrian C.
      20 February 2021 @ 06:12
      What about BlockFi vs Celsius vs Nexo? I couldn't get Celsius working but got Nexo smooth and easy. Put my holdings in it, burrowed and invested that in half a day (or minutes then waiting, minutes and waiting).
    • RK
      Reeran K.
      20 February 2021 @ 09:39
      Celsius is the OG of crypto lending and their AUM is $8 billion+ atm. Blockfi is forced to pay high rates just to stay competitive. Blockfi buys their shills and I worry about a rug pull. People should diversify and use several platforms.
  • MJ
    Marc J.
    20 February 2021 @ 08:39
    "You and I just can't get into the weeds about this technology because we just can't" Love it Raoul.
  • BG
    Brent G.
    20 February 2021 @ 03:29
    im not a crypto bull but i always enjoy the dialogue between these two.
    • SM
      Sergio M.
      20 February 2021 @ 04:27
      How come brrother?
  • DC
    Dominic C.
    20 February 2021 @ 03:42
    Amazing paint
  • jg
    john g.
    20 February 2021 @ 02:41
    Dan Tapiero speaks to me. As a financial/technology guy, I avoid excessive deep dives into crypto. Unless you keep up with it, you risk having old information and risk bad decisions. Right info + right people = right solution. Bad info kills you. It also reminded me of an old banking saying - "everybody makes money on a new idea for five years until banks show you how to lose money at it."
  • NL
    Nicholas L.
    20 February 2021 @ 02:25
    I've been following Dan and Raoul's crypto journey for the past 18 months, and always enjoy hearing them chat about the space!
  • RP
    Ron P.
    19 February 2021 @ 09:28
    Hi Dan. Exactly what I’m looking for. How can a small accredited investor invest? Who is my contact?
    • AH
      Anthony H.
      19 February 2021 @ 23:25
      Would love to know as well.
  • DW
    Daniel W.
    19 February 2021 @ 20:56
    Why not invite the founders of these projects on to explain precisely how their projects differ from the competitors? How does their project give them a moat over others? E,g, pace of innovation, technical correctness / probability, relationships with business and government, scalability, interoperability, decentralization, performance etc.
  • RA
    Romario A.
    19 February 2021 @ 20:55
    Great interview, talk about dropping some knowledge bombs
  • AB
    Alexander B.
    19 February 2021 @ 20:10
    Dan has really made his homework. Would love to see Raouls prediction for this year is coming. TYVM
  • PA
    Paul A.
    19 February 2021 @ 19:19
    Awesome and thank you! Looking forward to the Figure Acquisition Corp. on NYSE.
  • DK
    David K.
    19 February 2021 @ 18:47
    "Picks and Shovels"....Way to go guys, great conversation!!
  • NN
    Nathan N.
    19 February 2021 @ 18:44
    Would love to hear from an NFT expert. Just a basic NFT 101 episode. There’s so much to wrap your head around, feels a lot like when I first started taking bitcoin seriously - there’s something there and it could be huge but I just don’t know enough to understand why.
  • AP
    Alex P.
    19 February 2021 @ 13:16
    He investment and endowment based on hearsay. Solid. He won’t own Dogecoin but buys BTC lmao!
    • RD
      Rick D.
      19 February 2021 @ 16:03
      Do you think the coin made as a joke with an infinite supply and a meme dog on the front is a more serious long term investment than Bitcoin? Lol
    • JM
      John M.
      19 February 2021 @ 17:48
      Elon likes Dogecoin yikes!
    • AP
      Alex P.
      19 February 2021 @ 18:34
      Rick, if you do any research beyond staring at coinmarket cap and listening to what the scammers are shoving down your throat on a regular bases, you would realize BTC is even more of a joke than Doge Coin. It doesn’t take much to start seeing the red flags I encourage you to do the proper research. If you are a paid shill then say what you will.
    • MH
      Michael H.
      19 February 2021 @ 18:38
      the most dangerous over-investment is into one's own ego.
  • BS
    Brandon S.
    19 February 2021 @ 17:15
    Anyone investing in this space needs to check out the Hedera network and hbar. Valued just under a billion abd itll be a top 3 to 5 market cap. Best assymetric risk reward I’ve seen. It is the enterprise solution.
  • RM
    Ron M.
    19 February 2021 @ 15:26
    Kudos to Dan for jumping all in. Most guys at his age are scared and immediately dismiss the whole thing. While we don't know the winners, the blockchain is going to disrupt money, banking, trading, insurance, legal, voting, etc. Will take a decade to get there and plenty of minefields along the way, but interesting strategy.
  • MR
    Marco R.
    19 February 2021 @ 13:57
    My Highlight, always, when those two come together!! Thanks for sharing your thoughts
  • KR
    Kel R.
    19 February 2021 @ 11:38
    Excellent discussion. With regards to only 1 - 2 % holding / having crypto accounts ....I take it that this does not take into account all the people that hold $GBTC, QBTC, BTCC etc and will not buy the physical so to speak ?
  • AW
    Abigail W.
    19 February 2021 @ 08:58
    I use both Kraken and Binance for trading: Kraken is like a boomer, always close to get heart attack at every crypto corrections