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Active Digital Asset Managers Out-performed Passively Holding Bitcoin (BTC) Since Early 2018: Report

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New York-based Vision Hill Cryptocurrency Hedge Fund, a full-service digital asset management and solutions company, recently released its Q1 2020 returns reports.

As noted by the firm, its active crypto indices are “non-investable” reference indices that have been designed to be “representative of the overall composition of the crypto and blockchain-focused hedge fund universe.”

The Vision Hill Active Crypto Index (VH-ACI) aims to capture the performance of all “actively managed” crypto assets and distributed ledger technology (DLT)-related hedge funds within the firm’s scope.

The company classifies all crypto asset hedge funds into three major categories, including Fundamental, Quantitative, and Opportunistic.

As explained by the firm:

“The VH-ACI (Composite) aggregates all these strategies into one index at the headline level. Sub-indices for each strategy are also available for anybody wishing to reference specific types of managers and strategies, notably the VH-ACIF, VH-ACIQ, and VH-ACIO for Fundamental, Quantitative, and Opportunistic hedge fund managers, respectively.” 

During Q1 2020, on a net basis,

  • the VH-ACI (Composite) grew +8.8% on average,
  • the VH-ACIF (Fundamental managers) grew +2.4% on average,
  • the VH-ACIQ (Quantitative managers) grew +17.3% on average, and
  • the VH-ACIO (Opportunistic managers) grew +16.9% on average.

Meanwhile, passive, public counterparts such as Bitcoin (BTC) fell -10.5% during Q1 2020. Other passive investments such as the Bitwise 10 Large Cap Crypto Index (BITX) dropped -7.7% during the first quarter of this year.

The Bloomberg Galaxy Crypto Index (BGCI) fell -1.5% on the quarter.

Vision Hill revealed that active digital asset managers out-performed “passively holding” Bitcoin (BTC), if we consider active management performance from the beginning of 2018, which represents more than 2-years of observed performance.

However, the company pointed out that these performance comparisons are only metrics “as of a particular measurement point in time, representing only a limited snapshot and should not be considered as long-term indications of performance.”

Vision Hill notes that the digital asset hedge fund sector was not mature enough to provide any “meaningful performance and statistical analysis until the beginning of 2018.”

The company acknowledges:

“The digital asset industry remains highly volatile and in the early stages of development, and past performance is no guarantee of future results. Additionally, strategy specialization, alpha generation, risk management, valuation, and operational best practices continue to develop in the crypto hedge fund landscape.”

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Source: https://www.crowdfundinsider.com/2020/05/161840-active-digital-asset-managers-out-performed-passively-holding-bitcoin-btc-since-early-2018-report/

Cannabis

Headlines: Stitt Activates National Guard, Record Madical Marijuana Sales & McKnight Center Season

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Local headlines for Tuesday, June 2, 2020:

  • Governor Stitt activates the National Guard in Oklahoma. (NewsOK)
     
  • National Guard joins police in dealing with protestors at Woodland Hills Mall. (Tulsa World)
     
  • OHP releases few details on truck driver injuring protestors. (Tulsa World)
     
  • OKC Black Lives Matter leaders issue demands. (NewsOK)
     
  • Tulsa BLM organizers praise the weekend protests. (Tulsa World)
     
  • Tulsa mayor advocates for change in policing. (Tulsa World)
     
  • Dress for Success moves forward after weekend fire. (NewsOK)
     
  • Vandalism mars reopening plan for OKC businesses (Journal Record)
     
  • Church leaders plans discussion over racism. (NewsOK)
     
  • Health officials add 67 new cases but no new deaths to numbers from COVID-19. (Tulsa World)
     
  • Oklahoma County Jail inmate tests positive for COVID-19. (NewsOK)
     
  • Former health leader stays on as consultant. (NewsOK)
     
  • Another record month for medical marijuana sales (NewsOK)
     
  • The agency dealing with a backlog of unemployment is making changes. (NewsOK)
     
  • Sentencing reform advocates turn in 260,000 signatures for State Question 805. (Journal Record)
     
  • Rally organizers push for Tesla to come to Tulsa. (Tulsa World)
     
  • Costco buys Hertz building for new headquarters. (NewsOK)
     
  • McKnight Center plans online chats for upcoming season. (Tulsa World)

Original Author Link click here to read complete story..

Source: https://mmpconnect.com/headlines-stitt-activates-national-guard-record-madical-marijuana-sales-mcknight-center-season/

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Chart: Florida’s medical cannabis market booms despite pandemic, US economic woes

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Despite the ongoing coronavirus crisis, Florida’s medical marijuana industry continues to surge, with sales remaining well above pre-pandemic levels.

Demand for medical marijuana is at an all-time high, providing yet another example of the durability of cannabis demand in times of economic distress.

Over the first 10 weeks of 2020, dispensaries in Florida sold an average of 22,800 ounces of smokable MMJ per week.

However, dispensaries sold nearly 36,400 ounces during the seven-day period beginning March 13 – an increase of 38% from the previous week – just as COVID-19 fears began to enter the mainstream.

Florida’s program reports weekly sales figures beginning on a Friday and ending the following Thursday.

The seven-day period beginning April 17 was another record week for sales in Florida, with patients purchasing a collective 39,290 ounces of smokable flower.

That week happened to align with two major sales catalysts:

  • The first round of coronavirus stimulus checks hitting Americans’ bank accounts.
  • The unofficial cannabis holiday, 4/20.

While flower sales have been more volatile than usual on a week-to-week basis, they remained higher than at any point before the COVID-19 pandemic.

Furthermore, this sustained period of elevated demand is driven by an increase in consumption among existing patients, not just from new patients entering the market.

In the first 10 weeks of the year, the average medical marijuana patient in Florida purchased 2 grams of smokable flower per week.

For the past four weeks of data – or the seven-day period beginning May 1 through the seven-day period ending May 28 – the average patient purchased 2.9 grams of flower per week, an increase of 43%.

Besides allowing existing MMJ patients to renew their registrations via teleconference instead of in person, Florida’s Office of Medical Marijuana Use didn’t take any substantive measures to bolster the industry amid the coronavirus crisis.

But regulators likely didn’t need to.

The state classified medical marijuana dispensaries as essential businesses early in the pandemic, and MMJ retailers have been allowed to deliver product to patients since the market launched.

The big question for both Florida’s MMJ market and the cannabis industry at-large is whether sales will continue to hold strong in the event that the additional, temporary coronavirus unemployment benefits run out before the economy is able to recover.

Eli McVey can be reached at [email protected]

For more of Marijuana Business Daily’s ongoing coverage of the coronavirus pandemic and its effects on the cannabis industry, click here.

Source: https://mjbizdaily.com/florida-medical-cannabis-market-booms-despite-pandemic-american-economic-woes/

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Chinese man arrested for growing cannabis in warehouse

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Police take Wu Ding Bin, 41, to the warehouse where there about 1,000 cannabis plants were being grown, in Prawet district, Bangkok, on Tuesday. (Screenshot from TV Channel 3 news)
Police take Wu Ding Bin, 41, to the warehouse where there about 1,000 cannabis plants were being grown, in Prawet district, Bangkok, on Tuesday. (Screenshot from TV Channel 3 news)

A Chinese man was arrested in Bangkok’s Bang Kapi district on Tuesday and charged with growing 1,000 cannabis plants in a warehouse for online sale.

Pol Lt Gen Pakapong Pongpetra, commissioner of the Metropolitan Police Bureau, said Wu Ding Bin, 41, was detained near his room on Soi Ramkhamhaeng 24/3.

Police allege that Mr Wu and four Chinese accomplices grew organic cannabis of foreign varieties at a rented warehouse on Soi On Nut 82 in Prawet district, sold the cannabis online and delivered the product through courier services.

“Marijuana of foreign varieties is priced at up to 700,000 baht per kilogramme,” Pol Lt Gen Pakapong said.

The suspect had visited Thailand in 2018 and left  Afterwards he revisited on a student visa, claiming to learn Muay Thai.

The suspect denied knowledge of the cannabis grown in the warehouse, claiming he was only an electrician. The Bangkok police chief said surveillance camera footage showed the man paid frequent visits to the warehouse while carrying a big bag.

The warehouse had been air-conditioned and lit up around the clock. The electricity bill was 70,000-100,000 baht a month, while the monthly rent was about 40,000 baht.

Before the arrest, the gang had cut off electricity at the warehouse and let the plants die, Pol Lt Gen Pakapong said.

He said police apprehended Mr Wu because a Hong Kong Chinese man, Ma Ho Yin, 36, was arrested at a building on Soi Ramkhamhaeng 27 with about 300 cannabis plants growing there on May 3. He told police Mr Wu was doing the same thing.

Source: https://mmpconnect.com/chinese-man-arrested-for-growing-cannabis-in-warehouse/

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