Stone Ridge reports $3B profit in 2025, 50% annualized return for founding investors

Company Performance - Stone Ridge Holdings Group reported $3 billion in trading profits for 2025 and a 50% annualized return for founding investors since 2012 [1] - The company generated a total of $10 billion in trading profits over the last three years, with original investors receiving distributions totaling 32 times their initial capital [1] Advocacy for Bitcoin - CEO Ross Stevens advocated for Bitcoin as a necessary instrument for protecting human rights and resisting authoritarian regimes, countering claims that Bitcoin lacks a serious use case [2] - Stevens highlighted the financial privilege of critics who ignore the reality faced by billions lacking access to stable banking systems or property rights [2] Currency Crisis Example - The 2023 currency crisis in Malawi was cited as a key example, where the central bank devalued the kwacha by 44% overnight, confiscating nearly half the wealth of citizens holding the currency [3] - Stevens described fiat currency as "always and everywhere a ponzi phenomenon" [3] Case Study: Venezuela - The experience of Venezuelan opposition leader María Corina Machado was emphasized, noting her use of Bitcoin to bypass government financial blockades while in hiding from the Maduro regime [4] - Machado envisions Bitcoin becoming part of national reserves to help rebuild what was stolen by the dictatorship, stating that Bitcoin donations "cannot be seized" unlike traditional bank wires [5]