Bitcoin has transformed from a relatively obscure digital currency into a globally recognized institutional asset. Since its inception over 12 years ago, the institutional infrastructure, awareness, and adoption of bitcoin has improved. Today bitcoin stands as a legitimate macro asset. Bitcoin has cemented its use case as digital gold, helping portfolios hedge against global uncertainty. Even as bitcoin surpasses all-time highs again and again, when compared to other assets, we believe bitcoin still has plenty of room to expand. Compared to gold’s ~$11.5T market cap, or the US stock market’s ~$46T market cap, bitcoin’s ~$737B market cap seems relatively small, and its upside can therefore be quite large...
March 31, 2022
Why Bitcoin Now?