Are cryptocurrencies an asset class? 🤔
It’s been over 12 years since the first cryptocurrency, Bitcoin, was created. Initially the domain of computer scientists cryptocurrencies as a concept have only gained widespread attention and piqued the interest of investors in recent years.
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So what do you need to know to before you invest?
Today, over 10,000 cryptocurrencies exist, ranging from the relatively well-known Bitcoin, Ethereum and (thanks to Elon Musk) Dogecoin to the more obscure ones, such as Nexo and Golem.
The cryptocurrency market peaked at $3 trillion in November 2021, with Bitcoin and Ethereum accounting for 40% and 20% of that figure, respectively (Coinmarketcap, 2022).
Blockchain, the underlying technology that allows cryptocurrencies to operate, has the potential to revolutionise the world economy.
But the critical question for investors is...
Whether cryptocurrencies can be considered an asset class akin to equity and fixed income?
To answer this question we’ve taken a long hard look at the largest and most well-known cryptocurrency: Bitcoin.
