GIZBAR
/ˈɡɪz·bɑːɹ/ · HEBREW · NOUN
treasurer · keeper of calculated bets
CONVICTION · CODE · CAPITAL
Numbers don't
broadcast.
A decade of compounding on conviction, code, and quiet edge. These are the numbers that survived the cycle.
Feb 2016 → Apr 2021
first BTC trade, 2013
peak outperformance
- 2013
First crypto trade
Discovered BTC and never looked back.
- 2016
Gizbar founded
Started tracking portfolio against BTC.
- 2017
Swap market-making algo live
24/7 BTC perp quotes on BitMEX. Peak Oct 2017: 0.4% market share, $35M/mo turnover.
- 2021
FTX Top 10 by PnL
Lifetime PnL leaderboard, named.
Three edges.
One treasury.
Returns are uncorrelated by design. Drawdowns in one are absorbed by the others.
5400x
Speculative.
Conviction-led long / short on macro catalysts and on-chain inflection points.
Discretionary risk with disciplined sizing.thesis: asymmetric upside, defined drawdown.
Compounded,
not narrated.
Linear scale shows how BTC and the treasury diverge over five years. Toggle for log scale.
Conviction
calls.
Seed rounds, perps, basis trades, and the odd long/short. Each one a thesis — each one exited.
Realized
EXITEDBitcoin
reserve
Solana
L1
Project Serum
seed · iconic
Oxygen
seed · iconic
Curve
stable DEX
dYdX
perps
Perpetual
perps
Mango
margin
Only1
social
Parrot
full exit
LiqSolana
full exit
Casper Cheng
Opportunistic creator
Born 1997.
Hong Kong. Since the start.
BornandraisedinHongKong—thefinancialhubofAsia.Tradingandcodingsincehighschool,firstBTCtradein2013.Theedgeliveswherecodemeetscapital.
1997
BORN · HKG
2013
FIRST BTC
Top 10
FTX PnL · 2021
