Leonardo Rubinstein, an industrial engineer with expertise in strategic consulting and monetary markets, heads Zonda Bitcoin Capital, the primary Argentine firm aiming to listing on the nationwide inventory market primarily based on the mannequin of accumulating Bitcoin (BTC) within the nationwide treasury.
This initiative is A regulated funding automobile that facilitates institutional capital entry to digital currenciesintegrating it into the capital construction of the home inventory market.
Rubinstein’s profession is important to understanding the credibility of his proposals. He constructed his profession in a extremely demanding atmosphere earlier than absolutely immersing himself within the digital asset ecosystem. He’s a strategic guide at Boston Consulting Group (BCG). personal fairness I traded as a futures dealer in Chicago for 3 years. After seven years on the helm of OLX and founding the Itau Financial institution-backed fintech firm ank, his time within the expertise sector has established him as a benchmark.
However his “fall down the Bitcoin rabbit gap” started in 2015 after an opportunity encounter on the OLX workplace. Rubinstein stated in an interview with CriptoNoticias:
We used to do these talks each month with well-known and influential entrepreneurs, and Wenceslao Casares (founding father of XAPO) got here to provide a chat. I heard that and got interested within the topic. At first it was a really speculative and exploratory technique, however little by little I turned thinking about it. rabbit gap And I studied much more.
Leonard Rubinstein, CEO of Zonda Bitcoin Capital
This studying course of led him to query the very foundations of the standard financial system. As he explains, what affected him essentially the most had been questions concerning the supply of the funds. “Seeing how damaged the fiduciary system is has made me much more satisfied that I need to make investments the remainder of my skilled profession in it.”
Bitcoin and “cryptocurrency” should not the identical
For Rubinstein, readability of terminology is a declaration of ideas. Their method is unique, in contrast to different market individuals who group all digital belongings beneath one umbrella. That have helped refine his present imaginative and prescient whilst he tried to combine the acquisition of assorted digital belongings throughout his time at fintech Ank. “My curiosity is Bitcoin,” he emphasizes.
The distinction lies within the technical and philosophical nature of Satoshi Nakamoto’s creations. To Zonda’s CEO, Bitcoin is a technological answer to a decades-old international drawback: Accelerated devaluation of fiat cash. It stands out for its decentralized nature, absolute shortage and independence from intermediaries, firms and governments.
«Studying the white paper, its design was primarily transactional; peer to see“We additionally inherently had the thought of having a safety or avoidance valve in opposition to the issuance of unbacked fiduciary cash,” he famous, reaffirming that Bitcoin is an excellent asset for the monetary mannequin he’s constructing.
An untapped area of interest market in Argentina
Zonda Bitcoin Capital’s mission is obvious. It is going to turn into Argentina’s first public firm listed on the inventory market with a technique of accumulating Bitcoin in its treasury.
The corporate’s targets are two-fold. On the one hand, it gives entry to capital that’s at the moment “locked up” and unable to entry belongings straight attributable to technical or regulatory boundaries. On the one hand, it gives what Rubinstein defines as amplified efficiency.
of Metrics essential to shareholders Zonda’s inventory worth is not only the inventory worth. BTC per share.
If I’m a Zonda Bitcoin Capital shareholder and personal shares, my staff is dedicated to working to ship extra Bitcoins per share over time. You probably have 1 BTC, you should have 1 BTC after 1 12 months, whatever the worth. Then again, if I personal one share of Zonda inventory, our expectations can be: administration Which means you will have extra Bitcoins per share in a 12 months’s time.
Leonard Rubinstein, CEO of Zonda Bitcoin Capital.
This method goals to imitate the success of the technique. (The corporate based by Michael Saylor, a pioneer in making Bitcoin treasury a enterprise mannequin) has outperformed BTC since launching its accumulation technique in August 2020.
Moreover, Rubinstein emphasizes that: Tax effectivity of this automobile in native circumstances. Investing in publicly traded shares exempts people from revenue and private wealth taxes, giving them a aggressive benefit over straight holding BTC.
For corporations, this represents a option to diversify their portfolios by means of regulated means with belongings which can be uncorrelated with a rustic’s macro or micro circumstances.
Why ought to Zonda Bitcoin Capital select ETFs for your corporation?
Regardless of being an Argentinian initiative, Zonda Bitcoin Capital has designed the next working construction: We pursue institutional security and financial effectivity.
The corporate selected to make use of U.S. ETFs to keep away from being topic to taxes on unrealized features, a possible danger if the belongings are held straight in its personal pockets or native custodial service.
“We selected to speculate by means of the US BlackRock ETF, iShares Bitcoin Belief (IBIT). This solves these two points and provides buyers the peace of thoughts that their custodian will likely be held by Coinbase or Constancy. Tier 1 It’s audited,” Rubinstein explains.
Transparency will likely be a key pillar, with Market Web Asset Worth (MNAV) revealed on the web site to permit buyers to evaluate the connection between the corporate’s market capitalization and reserves.
It’s price clarifying that the corporate is now listed because of the acquisition of Hulytego (and the unique proprietor of the Telgopor model), one of many oldest corporations on the Buenos Aires Inventory Change with a historical past of greater than 80 years.
At present, it’s operated beneath the next system. ticker HULI is awaiting regulatory approval from the Nationwide Securities Fee (CNV) to hold out a capital improve (permitting the entry of recent buyers), official title change to Zonda Bitcoin Capital, and ticker.
An organization specializing in Bitcoin
The paperwork filed with CNV could elevate questions concerning the belongings that Zonda Bitcoin Capital accumulates. As reported by CriptoNoticias yesterday:
(…) The aim of the Firm is to hold out funding actions by means of the acquisition and sale of monetary devices and/or securities and/or digital belongings of any nature, both by itself account or in cooperation with third events, home or overseas. This consists of, however isn’t restricted to, participation in exchange-traded funds (ETFS) or different funding autos which can be listed and/or listed on Argentine and/or overseas inventory exchanges and markets and whose underlying belongings consist, in entire or partially, of Bitcoin. (BTC) or different crypto belongings. and/or digital belongings of an identical nature.
Zonda Bitcoin Capital presentation in entrance of CNV in Argentina.
What does it truly imply after they say they purchase and promote “digital belongings of any nature”? Might in addition they incorporate altcoins? Rubinstein clarified that whereas reviews to CNV generally check with “digital belongings” for procedural causes, the precise operation is completely different.
The objective is to speculate solely in Bitcoin. It is a Bitcoin firm, not a cryptocurrency firm. The Treasury will likely be Bitcoin solely.
Leonard Rubinstein, CEO of Zonda Bitcoin Capital.
Unique objective is 1,810 BTC, imaginative and prescient is $1 million
Rubinstein’s bold plans transcend merely making a monetary instrument. He’s aiming for the highest of Argentina’s company market.. “We need to construct an organization with the best market capitalization in Argentina. If Bitcoin ultimately exceeds $1 million, I consider that over time we are going to accumulate lots of Bitcoin and turn into a really giant firm,” he states with confidence.
To place Rubinstein’s ambitions into perspective, Argentina’s most useful firm in the present day is Mercado Libre, with a market capitalization of about $105 billion. That is adopted by oil firm YPF with about $16 billion.
As a primary symbolic and quantitative milestone, Zonda Bitcoin Capital got down to attain a treasury of 1,810 BTC, a quantity Rubinstein calls a “patriotic determine” after the 12 months of the Might Revolution.
“We not solely need to revolutionize capital markets with this quantity, however we additionally need to proceed. The purpose is to build up and accumulate,” he says.
Purchases are made in a “disciplined” method with out resorting to speculative buying and selling.: “We don’t commerce, we don’t enter or exit. We consider that all the pieces is sweet at this worth stage, so we’re not ready for the precise second to take a position.”
This imaginative and prescient is predicated on Rubinstein’s private, however worth predictions primarily based on market knowledge. Examine the market capitalization of digital currencies (roughly $2 trillion) to gold ($15 trillion) and the worldwide actual property sector ($400 trillion).
Bitcoin will likely be price $1 million and much more. I do not know when it’ll occur, however all circumstances are in place. Capital at the moment in gold and actual property will transfer to Bitcoin because the world’s capital finds it to be a way more environment friendly option to protect worth.
Leonard Rubinstein, CEO of Zonda Bitcoin Capital.
Bitcoin Schooling: The Antidote to Fiat Collapse
A core component of Zonda Bitcoin Capital is investor training. Rubinstein argues that Argentines have a relative benefit in understanding the bitcoin scarcity due to their historical past with the peso, however warns that the issue is spreading to the world’s reserve currencies.
“We wish buyers to grasp that the identical factor is going on to the greenback at an accelerating charge, and that digital options like Bitcoin are the way in which out,” he explains.
The CEO emphasizes that the creation of this digital asset in 2008 was a citizen response that mixed “the genius of cryptography, distributed computing, thermodynamics, and economics to guard us.”
On this sense, Zonda has already established collaborations with different regional pioneers, reminiscent of Mexico’s Arcadia, to strengthen the Spanish-speaking ecosystem.
A compact staff of 5 professionals seniorRubinstein believes this mannequin is extremely scalable with out requiring vital will increase in working prices as finance grows.
His last message is an attraction to the statistical realities of the previous decade. Whereas international financial emissions are round 8% or 10% per 12 months, BTC returned a mean of 77% per 12 months between 2014 and 2024.
“You do not have to return to being born in 2009 to know that it was the most effective belongings to have, if not the perfect. We estimate that the long run progress charge will enable us to broadly overcome fiat devaluation,” the supervisor concluded, revealing that Zonda’s path is simply starting.
