INVESTMENT HIGHLIGHTS: Due to faster-than-expected adoption and improving fundamentals we are raising our Bitcoin price Projection (from $655 to $848) but downgrading GBTC (to HOLD from BUY) based on the substantial premium at which shares trade relative to their net asset value. . .
ARK Invest and Coinbase explore the merit of bitcoin as the first of its kind in a new asset class – cryptocurrency – distinct from all other asset classes. Universally, we think traditional asset classes must meet the requirement of investability. . .
Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. . .