Patient Capital Deployment Delivers Near Triple-Digit Alpha Over Bitcoin

Nearly one year after launch, this is the strategy’s first full performance review — a chance to mark the book against its benchmark and, more importantly, to be honest about what worked and what did not. The approach does not manage outside capital; it manages its own with fund-level rigor, holds more cash than most, and deploys only on “fat pitches” with a one-to-three-year horizon. The benchmark is bitcoin. Here is how the first year played out: