Writing and resources

Writing worth reading before a conversation.

Long-form articles, white papers, and institutional analysis on Bitcoin allocation, monetary history, and portfolio architecture. Written for family offices, not for an algorithm.

White Papers

Bitcoin and the Architecture of Wealth Preservation

White Paper

Bitcoin and the Architecture of Wealth Preservation

7 Questions Capital Allocators Should Be Asking About Bitcoin

Whitepaper

7 Questions Capital Allocators Should Be Asking About Bitcoin

Bitcoin Custody for Family Offices

Whitepaper

Bitcoin Custody for Family Offices

Blog

Shorter-form thinking on allocation strategy, monetary history, and what serious investors are working through right now.

ISSUE 5 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

ISSUE 5 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

The geopolitical map of digital currency reveals what each instrument is actually for.CBDCs and stablecoins are competing for…

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ISSUE 4 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

ISSUE 4 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

The 1:1 reserve requirement under the GENIUS Act sounds reassuring. The details of what those reserves actually look…

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ISSUE 3 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

ISSUE 3 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

Programmable money is the feature CBDC architects discuss openly. It is also a feature stablecoin issuers have implemented…

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ISSUE 2 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

ISSUE 2 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

Stablecoins look like cash. They are not cash. They are credit instruments issued by private companies, and the…

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ISSUE 1 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

ISSUE 1 OF 6 · THE DIGITAL DOLLAR PERILS SERIES

The digital monetary transition is underway. CBDCs and stablecoins are the digital instruments most family offices are encountering…

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ISSUE 8 OF 8 · THE USE CASE SERIES

ISSUE 8 OF 8 · THE USE CASE SERIES

Eight independent use cases. One twenty-one-million-coin supply. What it means for a family office portfolio.Over the past seven…

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ISSUE 7 OF 8 · THE USE CASE SERIES

ISSUE 7 OF 8 · THE USE CASE SERIES

Sovereign demand is the headline. The structural demand is from households in countries where local currency is unreliable.…

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ISSUE 6 OF 8 · THE USE CASE SERIES

ISSUE 6 OF 8 · THE USE CASE SERIES

More than $70 billion in AI and HPC contracts have been signed by publicly listed Bitcoin miners. The…

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ISSUE 5 OF 8 · THE USE CASE SERIES

ISSUE 5 OF 8 · THE USE CASE SERIES

What started as one company in 2020 has become a category. The corporate treasury bid is now structural,…

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ISSUE 4 OF 8 · THE USE CASE SERIES

ISSUE 4 OF 8 · THE USE CASE SERIES

Roughly one million U.S. merchants now accept Lightning by default. The cost structure of retail payments is being…

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ISSUE 3 OF 8 · THE USE CASE SERIES

ISSUE 3 OF 8 · THE USE CASE SERIES

Roughly one million U.S. merchants now accept Lightning by default. The cost structure of retail payments is being…

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ISSUE 2 OF 8 · THE USE CASE SERIES

ISSUE 2 OF 8 · THE USE CASE SERIES

The U.S. cannabis market is one of the largest legal industries in the country with no reliable access…

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ISSUE 1 OF 8 · THE USE CASE SERIES

ISSUE 1 OF 8 · THE USE CASE SERIES

When an asset is being used to solve real problems for real people, the underwriting question changes.The conventional…

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The Tax Alpha You Are Not Capturing

The Tax Alpha You Are Not Capturing

A note on Bitcoin's structural advantage in a taxable portfolioMost sophisticated allocators have spent considerable effort optimizing tax…

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The Architecture of Asymmetry, part 2

The Architecture of Asymmetry, part 2

What most portfolios actually solve for, what they should solve for, and how to tell the differenceThere is…

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The Architecture of Asymmetry, part 1

The Architecture of Asymmetry, part 1

Why most portfolios are built to feel safe rather than to compoundThere is a quiet confusion at the…

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THE MONEY QUESTION NOBODY IS ASKING —  PART 4 OF 6

THE MONEY QUESTION NOBODY IS ASKING — PART 4 OF 6

The most common institutional objection to Bitcoin sounds decisive. Governments will never allow it. Examined carefully, that objection…

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State of Bitcoin Allocation-2026

State of Bitcoin Allocation-2026

01 — WHAT THE DATA SHOWSFour major institutional reports on family office strategy were published between September 2025…

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THE MONEY QUESTION NOBODY IS ASKING  —  PART 3 OF 6

THE MONEY QUESTION NOBODY IS ASKING — PART 3 OF 6

This is not a prediction about what will happen. It is a thought experiment about what would change…

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THE MONEY QUESTION NOBODY IS ASKING  —  PART 2 OF 6

THE MONEY QUESTION NOBODY IS ASKING — PART 2 OF 6

The damage fiat currency causes is not theoretical. It is structural, persistent, and distributed to those least equipped…

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The LinkedIn Newsletter

Analysis and frameworks on Bitcoin allocation, monetary history, and portfolio architecture, published on LinkedIn. Each issue works through one question relevant to investors thinking seriously about how this asset fits inside a long-term portfolio.

Read on LinkedIn

Books

Three books by Eric Runge

Longer-form work on Bitcoin allocation, governance, and independent thinking.

Browse the Books
Bitcoin and the Family Office book cover

Bitcoin and the Family Office

This book is a framework for family offices working through a first Bitcoin allocation or refining an existing position. It covers the monetary history that makes Bitcoin relevant to multigenerational wealth, the portfolio architecture questions a family office needs to answer before establishing a position, and the governance considerations that determine whether an allocation is sustainable across a generation change.

It is written for principals and investment officers who need analytical rigor, not advocacy.

Published 2026. Foreword by Richard Wilson, founder of the Family Office Club.

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The Cost of Consensus book cover

The Cost of Consensus

The most dangerous words in a family office are "everyone is doing it this way." Consensus feels like prudence. It photographs well in a board meeting. And it is quietly one of the most expensive habits a family can inherit, because the crowd is always most certain right before the ground moves beneath it.

The Cost of Consensus is a book about the families who chose to think for themselves, and the price paid by those who waited for permission. It is about capital that outlives the people who built it, the discipline required to hold a position your peers do not yet understand, and why the questions that preserve wealth across generations are almost never the comfortable ones.

If you are responsible for capital meant to outlast you, this book was written for the decision you already sense is coming.

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No Position Is a Position book cover

No Position Is a Position

The financial adviser's guide to Bitcoin allocation. Choosing not to hold Bitcoin is itself an allocation decision, and it deserves the same analysis as any other position in the portfolio. This book works through how advisers can evaluate, size, and defend that decision either way.

Is your Bitcoin allocation governed?

A 30-minute conversation to understand the current situation and whether there is a genuine fit. No pitch.

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