Detailed Methodology

a) Source Data

Total Return is based on gross profit and loss. Fees such as management fee and performance fee are not factored into the calculation of the Total Return.

Total Return combines data from three distinct data blocks as outlined below:

Data Source Data Range
1 Pre-Offering Performance
(based on real trades prior to SPC incorporation)
03 February 2020 to 28 November 2022
2 BTC Segregated Portfolio ("BTC SP") 05 December 2022 to 05 June 2023
3 USD Segregated Portfolio ("USD SP") 13 June 2023 to date

All three data sources during the stated periods follow the exact same Strategy.

BTC Segregated Portfolio has been redenominated to show performance against USD.

b) Glossary
Total Winning Months Number of months that generated a positive return
Total Losing Months Number of months that generated a negative return
Win/Lose Ratio Ratio of winning months vs. losing months
Total Return Rate of return from the start of the strategy to the present
Rolling Return Calculates the rate of return from past n weeks to present
Volatility Volatility represents how large an asset's price swings around the mean price — it is a statistical measure of its dispersion of returns.
Sharpe Ratio Sharpe ratio is the measure of risk-adjusted returns of a financial portfolio.
CAGR The compound annual growth rate is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each period of the investment's life span.