The Digital Assets industry was under pressure through 2022 with Cryptocurrency prices correcting sharply, as tighter global financial conditions impacted capital markets. The Digital Assets ecosystem is certainly used to a great deal of volatility, and the implosions of the
In the fourth quarter, bitcoin found strong support at its investor cost basis, then broke out above its total market cost basis and its 200-day moving average …
New Modeling Techniques to Evaluate Bitcoin in a Multi-Asset Class Portfolio Introduction Investors considering whether to add bitcoin to their multi-asset class portfolio face the challenge of how to think about both the impact of a bitcoin allocation and how
Most assets struggled in 2022. Among alternatives, commodity related categories were at the top of asset rankings (again), while cryptocurrencies and private equity were at the bottom. We expect falling inflation to pave the way for better outcomes …
The affair with the market catalysts of the last decade is over now, and a new era of investing begins. It was nice while it lasted. The tattered posters on the cover show the remnants of some equity market catalysts
In late 2016, we were approached by a brilliant entrepreneur with an interesting investment opportunity. We mask the full details here to protect anonymity but believe us when we say this person has a knack for being incredibly early to
Market drawdowns are often accompanied by feelings of doubt, uncertainty, and ambiguity of forward expectations. While no one has a crystal ball, we can use the information available to us to make our best estimations and probabilistic assumptions of what
In our view, FTX’s insolvency is one of the most damaging events—worse than the 2014 Mt. Gox hack—in crypto history. Caused by one of the revered leaders of the industry, this collapse could delay institutional crypto adoption by years and
With nearly six in ten institutional investors surveyed (58%) invested in digital assets globally, understanding how investors are engaging with the ecosystem is increasingly important. These key findings represent just a portion of the insights gleaned from the Fidelity Digital
Disruptive behaviour by some should not be allowed to spoil the opportunity in digital ledger technology. Events of the past few weeks offer a cautionary tale to anyone following the crypto space. Blockchain technology and its resulting cryptoassets were built
Everything you need to know about crypto adoption around the globe: Our data shows that global adoption has leveled off in the last year after growing consistently since mid-2019. We look at this trend in the chart below, where we
Long-term holders are trading at a loss proportional to that of previous market cycles, suggesting that, finally, the highest-conviction participants are experiencing …
Bitcoin’s on-chain activity suggests that holding behavior and network fundamentals are much stronger than its current price would suggest. Ethereum’s successful transition to proof-of-stake marks a monumental accomplishment for its ecosystem. An uncertain macro environment continues to weigh heavily on
Silver lining: Following on the heels of August, September 2022 trended negatively for …
Using Bitcoin mining to combust leaking methane sources can eliminate 5.32% of all global emissions by 2045. This represents 23% of all global methane emissions: more than half the UNEP’s targeted reduction of methane of 45% by 2045. That means
After investors have learned the basics of bitcoin, they often ask, “how is it possible to own an asset if they are unable to determine what its fair value should be?” Valuation methods vary widely across a variety of assets,
What to Expect from the Biggest Protocol Change to the World’s Second-Largest Digital Asset One of the most anticipated events in the history of the digital asset industry is set to take place in September – The Ethereum Merge. This
Venture capital plays a leading role in the story of American innovation. Venture capital was instrumental in the birth of legendary Silicon Valley firms such as Apple and Google. Venture-backed firms ushered in the information revolution, cementing America's status as
If you’re a fund manager who is establishing an ESG policy, failure to consider Bitcoin in the mix is tantamount to gross negligence on your ESG obligations. If you’re a private investor, not investing in Bitcoin because it “uses energy”
The Bitcoin Monthly With futures in backwardation and options open interest at an all-time high, ether is the most hedged asset in the crypto market as it transitions to …
Bitcoin isn’t the great evil we have been led to believe. Until you’ve looked deeply into something, you’re not in a position to judge it, says Daniel Batten. For as long as I can remember, protecting the environment was my
At our ESG fund, as part of our due diligence on Bitcoin Mining, we recently examined the 7 Most common ESG arguments against Bitcoin and found all of them to be untrue. Sometimes, the diametric opposite was the truth.
2022 has changed everything that we in the environmental, social and governance (ESG) sector thought we knew about Bitcoin. We thought it was a net negative for the environment. We could not have been more wrong. It turns out that
The 2 biggest problems with Solar & Wind are that they “don’t match where” and “don’t match when” most customers want it. These two problems lead to a plethora of other problems: curtailment, load balancing, voltage regulation, power wasted in
An engineer confronted with a problem in a novel environment would be tempted to fashion a specific solution. But studies of the pattern of synaptic connections of children, as well as the emergence of industries, show that the overproduction of
In 2018, it was relatively easy for asset managers to ignore the cryptocurrency space. Bitcoin had crashed, losing over 80% of its value, and the new ecosystem was littered with failed initial coin offerings. It all looked like a fad.
In 2018, it was relatively easy for asset managers to ignore the cryptocurrency space. Bitcoin had crashed, losing over 80% of its value, and the new ecosystem was littered with failed initial coin offerings. It all looked like a fad.
Bitcoin was originally created as a currency for the internet, where people could send and receive money without going through a financial institution. In recent years, the dominant narratives surrounding bitcoin have been solely focused on its potential as a
The Bank of Japan (BOJ) currently has no plans to issue central bank digital currency (CBDC), but to ensure the stability and efficiency of settlement systems as a whole, the BOJ regards it …
On-chain crypto-assets transaction volumes have grown rapidly, particularly during the COVID-19 pandemic. Crypto-assets activity appears to be a global phenomenon, although it still remains modest relative to gross domestic product for most countries. Panel regressions across more than 130 countries
We live in a world that is increasingly digitalized: most economic transactions and social interactions today occur remotely through the internet. The rapid digitalization of our lives also coincides with the growth of large social media and financial service companies
Since we last did this survey in 2020, there has been a clear salary inflation across the industry, the average salary increasing by 11% and bonuses rising by 10%. In our experience, a lot of the salary inflation is been
In the face of these events, Bitcoin outperformed assets like oil, gold and US dollars. After heavy price drops to start 2022, the crypto market stabilised for some time until it was shaken by a sudden spike which saw overall
Grayscale Research Crypto assets are increasingly becoming a key component of The Postmodern Portfolio. This report looks at the investment thesis for crypto assets, and the role they play within a portfolio, through the lens of Modern Portfolio Theory (MPT).
Once investors have decided to invest in digital assets, the next question becomes, “Which one?” Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundreds and even thousands of other digital assets in the ecosystem. One
State Street Digital Digest – January 2022 To help us understand the current industry state-of-play around all things digital, State Street recently launched a survey of global institutional investors in partnership with Oxford Economics. The findings, equal parts surprising and
Once investors have decided to invest in digital assets, the next question becomes, “Which one?” Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundreds and even thousands of other digital assets in the ecosystem. One
A broader market sell-off caused market sentiment to weaken substantially in Jan., leading some to think that BTC could break critical support levels and slip into a bear market. Notwithstanding BTC’s underwhelming performance, BTC’s hashrate hit an all-time-high on Jan.
Once investors have decided to invest in digital assets, the next question becomes, “Which one?” Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundreds and even thousands of other digital assets in the ecosystem. One
Some alternative assets performed very well in 2021, especially private equity and Bitcoin. But we think 2022 will be very different with less growth but lots of policy tightening. Hence we expect a convergence of returns but still favour cyclical
If 2020 was the The Year of the ₿ull, then 2021 was without a doubt the year crypto went mainstream. Last year, the cryptoasset industry experienced breakthroughs in adoption, regulation, policy, broader infrastructure development, technical upgrades, and on top of
Whether Crypto is the new New World or a glorified Ponzi Scheme is a debate which gets people curiously animated. We deftly sidestep this fracas, and instead focus on how the related instruments could be used from an asset allocation
Bitcoin's reputation as the soundest form of money is largely underpinned by its decentralized blockchain network. The network comprises globally distributed computers, known as “nodes,” that connect to each other and are run by anyone in the world with …
Understanding CBDCs Digital currencies are increasingly in demand across the globe. Central banks have taken notice and are investigating the creation of their own Central Bank Digital Currencies. In this article, we explain what CBDCs are, why central banks are
China bans Bitcoin, embraces dlt with ESG implications We don't have to sacrifice a strong economy for a healthy environment. Dennis Weaver SUMMARY China’s renewed crackdown on bitcoin aims at tackling the country’s problems of power shortages, climate control, creeping
New research from Fidelity explores bitcoin’s characteristics, potential benefits and risks, and other implementation considerations KEY TAKEAWAYS We believe bitcoin is an aspiring asset class in a period of price discovery. Like gold, bitcoin is a high-powered, opportunistic hedging asset
Sinds mei 2021 treedt China strenger op tegen het verhandelen en mijnen van cryptocurrency’s. China treedt hard op tegen o.a. bitcoin in een poging om problemen als stroomtekorten, klimaatschokken, financiële ontwrichting en de sluipende erosie van zijn soevereiniteit op het
In 1998, computer scientist Nicholas Szabo developed a novel, decentralized digital currency called “bit gold” based on a system mathematicians hypothesized nearly a decade prior. The development of this system was a precursor of what we know now as blockchain.2
Speculation is extraordinary, but so is potential. Whether investors welcome it—or even realize it— cryptocurrency, or crypto, is having an impact on their portfolios. The immense size of the cryptocurrency ecosystem and its disruptive effects are being felt across capital
Markets have been climbing a wall of worry in 2021, reaching record highs even as investors brace for the possibility of elevated inflation, rising interest rates, runaway debt and a bitcoin bubble. With so much to trouble investors, many are
