The bustling capital of Georgia, Tbilisi, is not just a cultural and historical hub but also a growing epicenter for the cryptocurrency world. Having actively participated in the crypto scene since 2017, I've witnessed firsthand how Tbilisi has evolved as a significant player in the global digital currency arena.
My foray into cryptocurrency began in 2017, during the early days of the Bitcoin boom. I started by purchasing Bitcoin and a few altcoins on Coinbase, one of the most popular cryptocurrency exchanges at the time. Intrigued by the potential of blockchain technology and cryptocurrencies, I soon expanded my horizons.
In Tbilisi, I built my first Ethereum mining rig, capitalizing on the low electricity prices that made mining economically viable. Back then, Georgia's affordable energy rates were among the lowest, making it an attractive destination for crypto enthusiasts and miners.
During the ICO (Initial Coin Offering) frenzy, I participated in at least one notable Georgian ICO, Golden Fleece. This project generated considerable buzz at the time, but like many ICOs from that era, its promise remains largely unfulfilled, and updates about its progress have been sparse.
Despite the mixed results of ICOs, this period was a significant chapter in Georgia's crypto history, attracting attention and investment from both local and international stakeholders.
Shifting Focus: Options Trading
As the crypto landscape evolved, so did my strategies. I shifted my focus to options trading on cryptocurrencies, a domain not specifically tied to Georgia but one that offered broader opportunities. Options trading allowed me to hedge risks and speculate on price movements with greater flexibility.
At Terramatris, the crypto hedge fund I founded, we specialize in trading put options. This strategy has enabled us to grow our portfolios, catering to expats in Georgia looking for sophisticated investment vehicles in the crypto space.
The Expat Crypto Community in Tbilisi
Being an expat in Georgia has provided unique opportunities to engage with the vibrant crypto community in Tbilisi. I've attended numerous crypto events and meetups, connecting with interesting and opportunistic individuals. This diverse group includes speculators and various types of traders, predominantly focusing on altcoins.
These gatherings have not only been a platform for networking but also for exchanging ideas and strategies, contributing to the dynamic crypto ecosystem in Tbilisi.
Institutional Interest and the Future
Recently, there has been a noticeable uptick in institutional interest in the Georgian crypto market. While it's not entirely clear what specific activities these institutions are undertaking, their presence signals a maturing market with potential for significant developments.
As of now, Georgia has yet to produce a "unicorn" in the crypto space, but the increasing involvement of institutional players suggests that the groundwork is being laid for future success stories.
Tbilisi's crypto scene is a fascinating blend of grassroots enthusiasm and emerging institutional interest. From my early days of buying Bitcoin and building mining rigs to the sophisticated options trading we now engage in at Terramatris, the journey has been exciting and rewarding.
As the global crypto market continues to evolve, Tbilisi remains a promising hub for innovation and investment. Whether you're a seasoned trader or a curious newcomer, the opportunities in Georgia's crypto landscape are boundless, and the community here is ever-growing and welcoming.
For expats and locals alike, Tbilisi offers a unique vantage point to explore and capitalize on the digital currency revolution.