Adam Eagleston is the Chief Investment Officer at Formidable Asset Management, LLC, with more than 25 years of investment experience and a focus on portfolio management and asset allocation strategies. He has led due diligence and research on over $4 billion in assets, previously revamping target-date funds and asset allocations at First Mercantile Trust Company, and managing portfolios at Opus Capital and Huntington National Bank. Eagleston holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the CFA Society of Cincinnati, with his career marked by senior leadership roles and extensive expertise in overseeing multi-asset investment strategies. He graduated summa cum laude from Clemson University with a B.S. in Financial Management and actively serves on charitable and professional boards.
Adam Eagleston of Formidable Asset Management, LLC asked whether building out in-house capabilities for hedging in the Unchained Capital deal would increase the likelihood of Acacia adopting a Bitcoin treasury strategy for its own balance sheet.
CEO MJ McNulty responded that while the company is not ruling it out for the future, Acacia is not currently considering adopting a Bitcoin treasury strategy.
Adam Eagleston from Formidable Asset Management asked about market sentiment and capital allocation, specifically questioning if Acacia had considered entering the crypto space to manage its large cash balance, given the market's focus on narratives.
Executive Martin McNulty responded that while he is fascinated by crypto, the company has been cautious due to its volatility and has not seriously evaluated it for cash management. He noted that as value investors, they have historically been more conservative but acknowledged the topic warrants evaluation and was open to further discussion.