Coinbase and ARK Invest Report Argues Bitcoin is a New Kind of Asset Class
Coinbase and ARK Invest released a white paper with four new definitions of a traditional asset they say shows bitcoin is actually a new asset class.
Rewards received by bitcoin miners form a major chunk of the salaries paid across major proof of work (PoW) blockchains, according to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest.
Despite the recent price plunge, ARK Invest's CEO remains convinced bitcoin is the first of its kind in a new asset class, one that is here to stay.
A key on-chain metric has witnessed solid growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders.
Asset manager ARK Invest would like to diversify its portfolio into ICOs, but, for now, a barrier of regulatory hurdles stands in the way.
Chris Burniske and Adam White discuss their recently published white paper, setting out what they see as the tech's investment potential.