Introduction to Cryptoassets
One of the bigger investing storylines of 2021 has been the continual appreciation of Bitcoin and other Cryptoassets. Since the beginning of the year, Bitcoin is up over 70%. Over the last six months, it's up just under 330%. With fears over global Central Banks continually printing fiat money and inflationary concerns, investors have been allocating to Bitcoin and other cryptocurrencies to hedge against inflationary risks and use these assets as a way to store value. What originally started with a select few computer scientists buying coins has now turned into a significant asset class. Today, some of the most prominent institutions worldwide are starting to allocate to the asset class. These include financial institutions, large university endowments, and big multinational corporations like Tesla. Because of those listed reasons, I wanted to put together a quick intro guide to the asset class.