Hello and welcome to Alts Cafe:
The most important alternative investing stories each week, customized to your liking, best enjoyed over a cup of coffee.
Highlights:
- International Investing: Japan rejected calls to sell US Treasuries, maintaining its position as the largest foreign holder of US debt.
- Artwork: Artwork remains exempt from US tariffs, thanks to exemptions from the IEEPA
- Crypto: The Justice Department shut down its cryptocurrency fraud unit.
- Precious Metals: China puts new restrictions on rare earth exports, as Trump orders US to ramp up critical mineral mining
- Startups & VC: Amazon launching 27 satellites to compete with Starlink
- Music & Film: The antitrust case against Live Nation and Ticketmaster over excessive ticket prices is moving forward
- Farmland: Thirty states enacted restrictions on foreign ownership of farmland.ral mining.
Let’s go.
Table of Contents
International Investing
Around the world…
- 🇬🇧 The UK economy grew 0.5% in February, exceeding forecasts across all sectors, including manufacturing, construction, and services.
- 🇯🇵 Japan’s ruling party rejected calls to sell US Treasury holdings, maintaining its position as the largest foreign holder of US debt.
- 🇨🇳 China’s Q1 GDP growth slowed to 5.1% from 5.4% in Q4 2024, with 2025 growth forecast at 4.5%.
- 🇷🇺 Russian industrial output plunged to 0.2% growth in February from 2.2% in January, while GDP growth fell to 0.8% from 3%.
- 🇵🇱 Poland set to surpass Japan in per capita GDP
Learn more
Two years ago, we collaborated with our friends at Tech Safari on what many Alts readers consider one of their favorite issues: Investing in Rwanda 🇷🇼 Yesterday, we teamed with Tech Safari once again to explore the bull market in African address & identify verification.
Collectibles
Bullish news
- Pokémon Go sold to Saudi-owned Scopely for $3.5B
- Heritage’s stage-used drumhead from Led Zeppelin’s John Bonham was discovered after surviving a 1987 warehouse fire.
- Nike’s GoldenEye 007-inspired Air Max 1 sneakers sold out instantly after release at $160.
- Grateful Dead’s first-ever performance poster from the 1965 San Jose Acid Test reached $10,000 at auction.
Bearish news
- The SEC ordered Collector’s Coffee, Inc to pay $70 million for defrauding investors in Jackie Robinson memorabilia.
- A memorabilia broker pleaded guilty to defrauding collectors of up to $550,000 through fake Kobe Bryant and Kardashian autographs.
- A thief stole between $25,000 and $40,000 worth of Pokémon cards from an Iowa card shop.
Learn more
Pokémon Go just sold to the Saudis for $3.5B — but this story goes way beyond gaming.
We explore the rise of Pokémon as a global brand, its sale to the Saudis, and what it all means for privacy and investing.
Podcast
As a special bonus this week, Stefan sat down with Michael Thompson from the Fear and Greed business news podcast.
This 12-minute discussion goes into chasing creatures, trading cards, nostalgia, the enduring appeal of Pokémon’s empire, and what it all means for investors.
Crypto
Bullish news
- President Trump signed a bill nullifying expanded IRS crypto broker rules.
- New York lawmakers introduced legislation to accept crypto payments for state services.
- The Justice Department shut down its cryptocurrency fraud unit.
Bearish news
- A Palm Coast crypto hacker admitted to stealing millions through phishing attacks.
Join the Discussion
Eric and Don Jr. now own 20% of American Bitcoin, a mining venture powered by Hut 8’s 61,000 rigs. It’s their third crypto move, following launches in stablecoins and memecoins.
The firm aims to go public and build a private Bitcoin reserve—raising concerns over ethics, as Trump pushes pro-crypto policy while his family expands its digital asset empire.
This is definitely something to watch closely.
Precious Metals and Gems
Bullish news
- UBS predicted gold reaching $3,500 in 2025, with current positions comparable to COVID-era levels.
Bearish news
- China puts new restrictions on rare earth exports, as Trump orders US to ramp up critical mineral mining
- Indonesia announced mining royalties will increase up to 19% for nickel ore and 13.5% for coal starting mid-April.
Join the Discussion
Following a 27% surge in 2024, gold prices are up another 14% this year as investors have sought a safe-haven asset amid a tariff-induced stock market slide.
Are you buying gold?
Artwork
Bullish news
- Artwork remains exempt from US tariffs, thanks to exemptions from the IEEPA
- Andy Warhol’s Big Electric Chair (1967-68) heads to Christie’s auction with a $30 million estimate.
Bearish news
- FBI agents raided a Miami gallery and indicted an art dealer for selling counterfeit Warhol paintings.
- The contemporary art sector hit its lowest level since 2018, with auction sales dropping 36% to $1.4 billion..
London meetup 🇬🇧
Last week, Altea members met at Chequers pub in St James, London, where Nicho (our mustachioed art broker) prepped the crew for our two art gallery visits.
Bella from Ben Hunter Gallery took us around her gallery and HHH, nearby, to give us some firsthand insights into the contemporary art scene— what’s hot, what’s not, and what’s about to take off.
Finally, we popped next door to Maison Francois, where Marina, from legendary auction house Bonhams, dropped by to give us the inside track into this season’s hottest pieces.
Startups
Bullish news
- Amazon launching 27 satellites to compete with Starlink
- Andreessen Horowitz announced plans for a $20 billion AI fund, their largest fund to date.
- Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney launched a $1 billion venture fund.
Bearish news
- Bankrupt EV startup Canoo’s assets were sold for just $4 million to its CEO.
- India’s late-stage deeptech funding plummeted to $52 million in 2024, down from $1.8 billion in 2022.
- FINRA ordered Robinhood to pay $29.75 million in fines and restitution for rule violations and failing to detect suspicious activity.
Music and Film
Bullish news
- Seeker Music acquired a substantial share of Joan Jett’s recorded and publishing rights.
- Nevada’s proposed film studio would generate $80.5 billion in economic impact and create 8,800 jobs annually.
Bearish news
- The antitrust case against Live Nation and Ticketmaster over excessive ticket prices is moving forward
- Regal Cinemas agreed to pay a $2.5 million settlement for failing to disclose electronic ticket booking fees in New York.
- Drake is heading to court against Universal Music Group over Kendrick Lamar’s “defamatory lyrics.”
Investment update
With Village Roadshow’s recent bankruptcy and general market chaos, it’s right to check how our Film I investment is doing.
Chris posted this thoughtful response earlier in the week.
Wyatt also dove into the situation and concluded that Film I is well-placed to take advantage of the new dynamic in Hollywood.
Private Equity & Private Credit
Bullish News
- Pantheon raised $5.2 billion for private credit secondaries.
- The iTRAXX Europe Crossover index recorded its largest single-day jump since March 2023.
Bearish News
- Wigdor Law faces a sanctions motion in their withdrawal from a case against PE billionaire Leon Black.
Farmland
Bullish News
- Agriculture Secretary Rollins announced preparations for a farm relief package to support US farmers.
Bearish news
- President Trump’s new tariffs could cost California agriculture $6 billion per year in export losses.
- The USDA cut $1 billion from local food programs supporting small farms.
- A historic 100-year-old shrine was stolen from agricultural land in Dombivli.
Wine, Whiskey & Spirits
Bullish news
- Midleton released its final Silent Distillery Collection whiskey at $60,000 per bottle.
Bearish news
- Oregon recorded 130 brewery and winery closures in the past two years, while lawmakers proposed a new 8% sales tax.
Luxury Goods
Bullish news
- Prada acquired Versace in a €1.25 billion deal, creating a powerful Italian luxury conglomerate.
Bearish news
- Only one-third of luxury brands reported growth in 2024, down from 65% in 2023.
Real Estate
Bullish news
- Funnel Leasing reached 1 million apartment units on its platform, representing 5% of all US apartments.
Bearish news
- Florida condo owners face skyrocketing fees due to post-Surfside safety regulations, with some monthly costs jumping to $2,100.
- Eight of the 10 US metro areas with the highest share of condos selling below asking price were in Florida, with Miami reporting 92.5% of listings discounted.
Classic Cars
Bullish news
- RM Sotheby’s announced a Stuttgart Legends Collection featuring a 1954 Mercedes-Benz 300 SL Gullwing, estimated at €1.5 million.
Bearish news
- Alleged nickel fraudster Ng Yu Zhi spent S$7 million on eight luxury cars.
- International car theft rings shipped stolen luxury vehicles to West Africa.
Learn more
How do stock markets influence classic car prices?
This privately published paper investigates the connection between the classic car market and financial markets globally.
Using a 23-year monthly database, the author applies cointegration analysis to answer the question.
That’s all for this week
Cheers,
Wyatt
Disclosures
- Altea has no holdings in any companies mentioned in this issue
- This issue was sponsored by KingsCrowd
- This issue contains no affiliate links
