Most people think generating a return on Bitcoin means taking on reckless risk or selling your stack. Adil Abdulali, Chief Strategy Officer at Amitis Capital, says the real opportunity is treating Bitcoin as pristine collateral and building disciplined financial strategies around it without ever parting with your sats.

Wyatt sits down with Adil to unpack what it actually looks like to run a Bitcoin-denominated hedge fund in a market where institutional adoption is still crawling, distribution networks haven't caught up, and the most sophisticated strategies are only just becoming accessible to serious investors.

Adil walks through his career from the ground up. From trading derivatives on Wall Street in the nineties, to seeding early hedge funds at Protege Partners, to getting introduced to Bitcoin through MIT's Media Lab in 2015, and ultimately going full-time Bitcoin in 2019. He breaks down how Amitis Capital uses Bitcoin as collateral to fund market-neutral trading strategies, why the basis trade opportunity has compressed as institutional capital flooded in, and where the next frontier lies as real-world assets get tokenized onto Bitcoin rails.

They get into the Meanwhile connection. How Bitcoin-denominated insurance policies and repo products create a virtuous circle for investors who want exposure to Bitcoin financial strategies without triggering a taxable event. Then the conversation moves to Strategy. Where Adil lands on the treasury company model, why he thinks the infinite game may be over, and what the growing concentration of Bitcoin in the hands of large fiduciaries means for the soul of the network.

They close out with what Amitis Capital is focused on now. Why the RIA distribution channel is still the key unlock, how the early hedge fund playbook maps directly onto Bitcoin asset management today, and Adil's case for why getting small investors into Bitcoin before the institutions take over is the most important thing anyone in this room can be doing.

🎟️ Join Us in Denver, Bitcoin Financial Services Summit

The Bitcoin Financial Services Summit returns October 20-22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media

Chapters

00:00 Introduction to Adil Abdulali and Amitis Capital

02:50 Adil's Journey in Finance and Bitcoin

06:10 Transitioning to Bitcoin Asset Management

08:57 Strategies for Growing Bitcoin

11:59 The Role of Bitcoin as Collateral

14:52 Evaluating Bitcoin Capital Markets

18:13 The Impact of Derivatives on Bitcoin

20:54 The Future of Bitcoin and Quantum Risks

24:01 Bitcoinization of Finance and New Opportunities

33:01 Exploring Bitcoin's Future Opportunities

39:21 Adoption Challenges and Market Sentiment

46:25 Investment Strategies and Diversification in Bitcoin

55:09 The Impact of Institutional Players on Bitcoin

01:00:32 Future Directions for Bitcoin Financial Products

Guest: Adil Abdulali

Amitis Capital

LinkedIn: linkedin.com/in/adil-abdulali-48186393

Host Links

Wyatt O'Rourke

X: x.com/wyattorourke_

Website: basilic.io

Jordan Guess

X: x.com/jordanguess

LinkedIn: linkedin.com/in/jordan-guess-cpa

Website: bitment.co

Bitcoin Financial Services Media

X: x.com/bffs_media

Website: bffs.media

YouTube: @bffs_media

Show Sponsors

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