Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnik and Ben Carlson work for Ritholds Wealth Management.

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and do not reflect the opinion of Ritholds Wealth Management.

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We're joined today by Lee Drogan, Lee is the founding GP and CIO at StarKiller Capital.

Lee, thank you for joining us today.

Thanks for having me, guys.

There's like that stat that there's more hedge funds and taco bells.

How many crypto hedge funds are there? It's got to be fairly small but growing.

I mean, are you counting basically all the kids who just got lucky holding Bitcoin from like 12 to 15

and then raised a hundred million bucks because, well, who knows why?

I mean, if you're counting them, there's a lot. If you're not counting them, there's not too many.

So you've worked with traditional hedge funds in the past and seen that, I guess, mainly long short funds.

What was it about this space that you said?

All right, I've taken this traditional public equity knowledge and I'm going to apply it to this space.

Like, what decided for you to make that jump and why was the time right for this now?

I started investing in Bitcoin back in 13, more so in 15.

And the original thesis was that this stuff was just religious prostitutization as a financial asset.

Like, if you could own a digital religion, would you want to?

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