Press Release: AltMoneyFund.com Tokens Now Listed on the Waves.Exchange Platform
In 2017 John Chalekson founded Alternative Money Fund Management LLC which manages Alternative Money Fund LP. After putting together a grub-stake amount of capital, he utilized a proprietary, discretionary, bottom-up approach on analyzing crypto assets and making good use of the volatility to produce returns. Although un-audited, the fund returned something like 11,000% before taxes and fees for the banner year. A Zero Hedge Article captured the moment mid-year 2017, “it is a ‘hedge fund’ invested entirely in cryptocurrencies and it has allegedly generated a 2,129% return YTD, making it the best performer in Hedgeco's ranking of asset managers YTD.”
From the Website:
“My name is John Chalekson and this is the second hedge fund that I have formed in my career. From an early age I always admired my cousin-in-law’s brother who runs BlackRock, a $5.7 Trillion asset management company, and the largest investment management firm in the world. Since age 23, I have been researching emerging asset classes non-stop for opportunities where I could create the next BlackRock. So as a fundamental aim of my fund, we want to be the asset managers for digital currency and smart contract assets. The investment into these assets is somewhat daring, but as we march forward into an increasingly technological world, digital currencies are going to replace fiat by and large. Cryptocurrencies are simply the best-designed digital currencies.”
During April of 2020, at Mr. Chalekson's discretion it was decided that the capital accounts were dwindling fast as Bitcoin hit $5000 per coin. He waited for a bounce back while the fund was converted into physical silver. This was his “Ray Dalio Moment” where he questioned the entire concept of digital assets and crypto currencies in general. Converting to physical silver during the aftermath of the height of the Covid-19 panic was an effort to lock in previous gains from prior years. This was the last resort safe haven, and a way to ensure that the fund would survive.
Having gone to 7 different business banks, he was rejected 7 times in 2017 and could not open a traditional checking business account because of the big bank’s distaste for crypto. Potential investors did not have the risk appetite to invest into the fund’s offering. Many were uncertain. They liked the concept, but the volatility was too high for them at the time. The altcoin market later crashed, leaving many crypto currencies down 90-95% of their 2017 peaks, while his silver assets skyrocketed. As Bitcoin breaks new highs recently, many altcoins are still way under their all-time high prices. This is where the renewed opportunity that he believes exists.
2018 was another story when the market collapsed, taking all Altcoins with it. Chalekson and the fund had an agreement not to convert the assets to USDT (Tether), or in other words “cash out” of their Altcoin holdings. They were always exposed to altcoins and ultimately rode the prices down to very low amounts. Chalekson’s outlook has become more optimistic, and he does not fear a USDT insolvency anymore. But, the US has made it much more difficult for cryptocurrency hedge funds to operate in the United States. Many exchanges started to refund customers their deposits and prohibit trading in the country due to strict laws.
Chalekson has developed hundreds of websites and spent countless hours using social networks, reading books, and contemplating “the next big trade idea”. On Thanksgiving of 2020, he decided to mint 10MM utility tokens under the name of “Altmoneyfund.com” to tokenize the work he has done over the past 4 years. Chalekson’s goal is to add more assets to the fund’s balance sheet, not selling the physical silver that has been obtained, but instead add a mix of traditional equities, options, and small portfolio of digital assets to the mix, creating a highly diverse portfolio. Chalekson is an astute student of the markets and intends to get back to trading the markets successfully once again. Nobody could have predicted what a wild ride 2020 has been, but in Chalekson’s opinion 2021 is only filled opportunity.
The newly minted token is now on the http://Waves.Exchange platform.
10,000,000.00000000 AltMoneyFund.com
Asset ID: MuCefL9dt1rZ8CjMYu3mSYXNSwVUtkFseDzkHE84dsP
About the Token:
This is NOT a security. AltMoneyFund.com Tokens are Utility Tokens, not direct investments in the Fund or Limited Partnership. Alternative Money Fund, LP® is a crypto currency hedge fund that is committed to provide exceptional returns through an actively managed diversified portfolio of blockchain assets. With the emergence of Bitcoin, Altcoins and this exciting new technology has created a new asset class for investors. The volatility associated with the cryptographic verification and game theoretic equilibrium allow these blockchain-based digital assets to create valuable opportunities in an actively traded portfolio. Blockchain tokens are an emerging asset class which add a monetary incentive layer to p2p protocols and facilitate equity crowdfunding that anyone in the world can participate in. This means for the first time, open source software developers can monetize their networks at the protocol level, and users of the network are the equity owners of the network.
Media contact
Company: Alternative Money Fund Management LLC
Contact: John Chalekson
Telephone: +1 888 8 HEDGED
E-mail: info@altmoneyfund.com
Website: https://www.altmoneyfund.com
Address: 1200 11th Street, Manhattan Beach CA 90266
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