A new investigate paper published by ARK Investment Management LLC (Ark Invest) and Coinbase, Bitcoin: Ringing a Bell for a New Asset Class, creates a clever box that bitcoin is “the initial of a kind in a new item category – cryptocurrency.”
Ark Invest’s blockchain researcher and products lead, Chris Burniske, and Coinbase Vice President of Business Development Strategy, Adam White, co-authored a paper, that explores a merits of cryptocurrency as a new item category for investors.
“Bitcoin exhibits characteristics of a singular item class—meeting a bar of investability, and incompatible almost from other resources in terms of a politico-economic profile, cost independence, and risk-reward characteristics.”
– Burniske and White
While a authors of a paper are not a initial to advise that cryptocurrencies paint a bona fide item class, that investors should be examination like any other, they do seem to be a initial to quantify and validate that view in an investment bank-ready report.
Burniske and White used a clarification of an item category addressed in Robert Greer’s seminal 1997 paper, What is an Asset Class, Anyway? In his paper, Greer