… For more than a decade, bitcoin’s relationship to global liquidity has been one of the most compelling frameworks for understanding its price behavior. As money supply expanded and bitcoin’s supply remained constrained, the asset generally appreciated alongside rising … Is the macro case for bitcoin unraveling, or has the nature of liquidity…
… Bitcoin launched in 2009 as the first decentralized peer-to-peer electronic cash system, … in data and developments across the digital assets market. This report specifically highlights Bitcoin and explores its long-term potential in the digital assets market, covering topics including: Bitcoin’s investment thesis as a store of value in an…
… In the last four years, we have noticed more corporate treasuries making allocations to bitcoin and wanted to share the trends and developments we are seeing. … While bitcoin may not be a conventional holding among corporate treasurers, a greater understanding of bitcoin may help to explain why corporate treasurers of large, publicly traded…
… In a previous article, we discussed why bitcoin is volatile at a fundamental level. In this piece, we explore the data behind bitcoin’s volatility, how it compares over time and to other assets, and why volatility might be welcomed by investors, including a model that links bitcoin’s volatility to the market cycle’s price. … stocks, and as…
… we worked with Ark Invest to highlight some of the most common investment vehicles to get bitcoin exposure. Since then, investor interest in bitcoin has continued to grow. However, many U.S. institutional investors have been limited to … Channels for Exposure to Bitcoin Revisited …
… questions surrounding the supply schedules of the two largest digital assets by market cap, Bitcoin and Ethereum. Most notably, we seek to explain how a protocol’s supply schedule could … an entirely new version of the network to be formed, commonly known as a “hard fork.” For Bitcoin, the maximum supply is 21 million tokens. The reason for this is its issuance…
… In November 2020, we highlighted some of the most common Bitcoin criticisms that were sourced from our regular conversations with institutional investors and observation of public commentary on Bitcoin. More than three years later, Bitcoin not only remains the largest digital asset by … probability of occurring and, therefore, investors should…
… provides an introductory comparison and analysis of the network-level transaction fees for Bitcoin and Ethereum. While both networks use transaction fees for the reasons above, their … Comparison of Bitcoin and Ethereum Fees … Bitcoin … In the Bitcoin network, transaction fees are voluntary amounts users pay to incentivize…
… many times over, but we wanted to share an updated response given the increase in attention on Bitcoin. Specifically: 1. Bitcoin is too volatile to be a store of value. 2. Bitcoin has failed as a means of payment. 3. Bitcoin is wasteful. 4. Bitcoin is used for illicit … Criticism #1: Bitcoin is…
