Through this work, I’ve come to understand that philanthropy is not just about changing the world; it’s about changing ourselves. Philanthropy is a journey that transforms the giver, shaping our relationship with money and ultimately, our legacy. Here’s why philanthropy matters more than ever, and how it influences not only family dynamics but also your vision for the future.
Find comprehensive questions to help you define your family legacy at the bottom of this blog post.
Philanthropy: More Than Money
Philanthropy is often misunderstood as merely the act of giving money. However, it runs much deeper. It’s about understanding the various forms of wealth beyond financial assets. What truly matters is the impact we make, not just on the world, but on ourselves. It’s about recognizing the wealth of relationships, talents, and values that define a family.
Family Wealth Beyond Financial Assets
We must ask ourselves: What constitutes our family’s wealth beyond money? It includes the unique talents, strengths, and values that each member possesses. These intangible assets contribute significantly to our family’s legacy, shaping our identity and purpose.
Each member of our family brings something unique to the table. Whether it’s creativity, leadership, or compassion, these talents contribute to our family dynamics, fostering collaboration and growth.
Core Values and Charitable Endeavors
Our family’s core values guide our charitable endeavors and vision for the future. Whether it’s integrity, generosity, or empathy, these values shape our impact on the world and ensure that our giving reflects who we are.
Envisioning each family member’s involvement in our legacy planning is essential. Their perspectives and wisdom contribute to a holistic vision for the future, ensuring that our values and goals are passed down for generations to come.
Wealth and Relationships
Reflecting on our experiences, we must acknowledge the influence of wealth on relationships. While it can strengthen bonds and enable positive change, it can also pose challenges if not managed wisely. Personal insights into this matter help us navigate these complexities and build meaningful connections.
Even beyond our family, there are key individuals who significantly impact our happiness and well-being. Nurturing these relationships requires time, effort, and genuine care to maintain a strong support network.
Values and Vision as a Founder
As a founder, husband and a parent, I’m often asked about my values and vision for the future. Here’s what I believe:
My Values: Integrity, empathy, and resilience are at the core of everything I do. These values drive my actions and shape my relationships, both personally and professionally.
Where They Come From: My values are rooted in my upbringing, experiences, and the lessons I’ve learned along the way. They are a reflection of who I am and what I stand for.
Why They Matter: These values guide me in making decisions that align with my principles and contribute to a better world. They define the kind of leader, parent, and individual I strive to be every day.
The Kind of People I Want My Kids to Be: I want my children to be compassionate, resilient, and driven by purpose. I envision them leading fulfilling lives, making a positive impact, and embodying the values that define our family.
Their Future: If my children embrace these values and lead with integrity, their lives will be filled with meaning and fulfillment. They will navigate challenges with grace and leave a lasting legacy of goodness in the world.
Impediments to Success: To help my kids achieve success, we must remove or avoid impediments such as entitlement, complacency, and a lack of empathy. By instilling a strong work ethic, fostering resilience, and nurturing their sense of empathy, we can empower them to overcome obstacles and thrive in a rapidly changing world.
Define YOUR Family Legacy
What do you consider as your family’s wealth beyond financial assets and how do these other forms of wealth contribute to your family’s legacy?
Can you share some unique talents or strengths that each member of your family possesses? How do these talents contribute to your family dynamics?
Who are the key individuals outside your family that significantly impact your happiness and well-being? How do you maintain these relationships?
What core values do you hold dear as a family? How do these values influence your charitable endeavors and vision for the future?
Why are these outlined values important to you? Where do they come from?
How do you envision each family member’s involvement in your legacy planning? What special perspectives or wisdom do you see them bringing to the table?
Reflecting on your experiences, do you believe wealth has the potential to influence relationships positively or negatively? Can you share any personal insights on this matter?
What kind of people do you want your kids to be? What will their lives look like if that happens?
What impediments need to be removed or avoided to help your kids achieve success?
In conclusion, philanthropy is not just about giving; it’s about personal transformation and legacy building. We have the opportunity to shape the future by instilling values, fostering relationships, and leaving a meaningful impact on the world. Let’s embrace this journey of giving and growth, knowing that our greatest wealth lies not in what we have but in who we become.
We are witnessing remarkable advancements on secondary layers within the Bitcoin network. Bitcoin core developers are continually innovating to enhance the scalability and transaction capacity of the network, allowing it to perform a broader range of functions. These developments not only increase Bitcoin’s utility but also have the potential to significantly boost its value.
This blog post summarizes a recent talk our co-founder and executive managing director Matt McClintockshared with the Unchainedaudience. You can tune into the full video at the bottom of the page.
The Dynamics of Bitcoin Value
Predicting the spot price of Bitcoin in U.S. dollar terms remains a challenging endeavor. However, Michael Saylor’s assertion that “it goes up forever” captures a fundamental belief within the Bitcoin community: as Bitcoin’s network grows and its applications expand, its value is likely to increase. This upward trajectory is compounded by the depreciation of the U.S. dollar, which typically loses value at a rate of 2 to 8 percent per year. As Bitcoin appreciates and the dollar depreciates, the value gap between them continues to widen. This trend suggests that Bitcoin’s long-term value proposition remains robust. For the U.S. to fully leverage this potential, it might need to consider holding Bitcoin as part of its strategic economic reserves.
The Rise of Ideological Investing
Investors, especially the younger generations, are more inclined to align their investments with their personal values and worldviews. This trend is reflected in the growing interest in companies that demonstrate social responsibility, such as having women in the C-suite or implementing sustainable practices. Investors are now willing to prioritize ideological alignment over traditional financial metrics like alpha and beta.
At Bespoke Group, we help our clients uncover the deeper purpose behind their wealth. We explore questions such as: What does this wealth mean to you? How can it be used to express your values through investments and philanthropy? By addressing these questions, we guide our clients in making investment decisions that reflect their ideologies and contribute to a better world.
Planning for Transformative Wealth
Many individuals possess substantial Bitcoin wealth, which necessitates careful consideration of its implications for their families and communities. The case of Mircea Popescu, who allegedly held over a million Bitcoins and tragically drowned without clear succession plans, underscores the importance of strategic planning. Whether one owns 100, 1,000, or 10,000 Bitcoins, these assets represent transformative wealth that demands thoughtful succession and estate planning.
Bitcoiners, especially those who have weathered multiple market cycles and significant industry upheavals (such as the collapses of Three Arrows, Terra Luna, and FTX), often develop a mature and ideological perspective. They view Bitcoin not just as a store of value but as a revolutionary asset with the potential to transform their lives and the futures of their families. Structuring and managing this wealth strategically is crucial for its preservation and growth.
The Generational Shift and Social Upheaval
Our client base is largely composed of individuals younger than 50, reflecting a significant generational shift in attitudes towards wealth and investing. Younger generations, including Gen X and Millennials, are more ideologically driven compared to the Baby Boomers. They possess significant wealth, often accumulated through unconventional means like cryptocurrency investments, and are motivated by a desire to make a positive impact on the world.
This generational shift coincides with a period of significant social upheaval in the United States. The “Fourth Turning,” a concept popularized by William Strauss and Neil Howe, suggests that American society undergoes a major transformation every 80 to 100 years. We are currently in a crisis phase, characterized by societal reimagining and reorganization. This period of transformation is driving affluent individuals to align their wealth with their values, whether through investments, philanthropy, or family legacy planning.
The Role of Bitcoin ETFs
The introduction of Bitcoin ETFs has been a significant milestone, signaling growing acceptance of Bitcoin as a legitimate alternative asset class. While Bitcoin ETFs provide an easier access point for retail investors, there are concerns that they might simplify Bitcoin ownership to the point where investors miss out on understanding its deeper value. The influx of Bitcoin into ETFs could potentially centralize control, but the high HODL rates suggest that many Bitcoiners are committed to maintaining their holdings.
Global Strategies and Regulatory Risk
Navigating regulatory risks within the United States is a critical concern for many Bitcoin holders. At Bespoke Group, we help clients plan for these risks through global custodial relationships and structures, such as trusts in the Cook Islands or foundation companies in Switzerland. These structures can protect Bitcoin assets from regulatory reach while allowing clients to maintain control and benefit from their investments.
Our Approach at Bespoke Group
One of our specialities is sophisticated wealth management tailored for Bitcoin holders. We embrace a Bitcoin-centric ethos and understand the unique complexities and needs of our clients. Our approach is designed to balance traditional wealth management principles with the distinctive nature of Bitcoin assets.
We recognize that many Bitcoiners are ideological about their investments, especially those who have been involved for several years. These individuals often possess a long-term vision for their wealth, viewing it as a means to not only secure their own futures but also to make a positive impact on their families and communities. Our goal is to help these clients strategically plan for the future, ensuring that their Bitcoin wealth is managed and preserved in a way that aligns with their values and aspirations.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
