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Rainy day funds

What if US states had invested in Bitcoin in 2018?

What if US states had invested in Bitcoin in 2018?

I recently led the writing for a Satoshi Action Education report, coauthored with Eric Peterson and Dennis Porter, entitled "Strategic portfolio allocations for financial resilience: a counterfactual analysis of Bitcoin and gold in US state Rainy Day Funds." Eric had the idea for this project, which asked '
Murray Rudd 05 Feb 2025
Strategic portfolio allocations for financial resilience: a counter-factual analysis of Bitcoin and gold in US state Rainy Day Funds

Strategic portfolio allocations for financial resilience: a counter-factual analysis of Bitcoin and gold in US state Rainy Day Funds

Rainy Day Funds (RDFs) help U.S. states manage fiscal shortfalls and shocks but often rely on low-risk, low-yield investments that erode under inflation. In this paper, we test whether partial allocations to Bitcoin and gold bolster RDF performance from 2018 to 2024.
Murray Rudd 23 Jan 2025

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