We believe that professional investors should feel confident navigating a conversation around Bitcoin. As this asset continues to pervade advisory conversations and investment committee meetings, the unique qualities Bitcoin possesses…
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Articles & Publications
2020 Shareholder Letter

Stone Ridge Asset Management manages $10bn of assets on behalf of their clients and in 2017, founded NYDIG (New York Digital Investment Group). NYDIG is a crypto-native financial company, offering…
Read More27 Questions and Answers for Curious Investors

Long shrouded in mystery, cryptocurrencies are today on the cusp of becoming adopted by mainstream investors. Soon they will take their place alongside traditional assets like equities, fixed income, and…
Read MoreEthereum Investment Thesis

In this report 21Shares describe why Ethereum is such a promising crypto asset by first explaining how it works and then exploring the most important areas of Ethereum — including…
Read MoreBitcoin May Be Better Than Gold

Crypto assets in 2021 are initially about the diminishing prospects for Bitcoin to revisit old highs around $20,000 vs. the increasing potential of staying a bullish course toward $50,000 and…
Read MoreCrypto Assets Extending Permissionless Innovation

The aim of this paper is to describe the purpose and necessity for native crypto assets to enable decentralization. It highlights key problems solved by non-centralized networks and crypto assets,…
Read MoreEthereum’s Role in the Modern Portfolio

Bitcoin technology, built on the Bitcoin blockchain, allows users to send bitcoin (BTC) balances. The Bitcoin blockchain maintains each user’s BTC balance, making Bitcoin an excellent non-sovereign store-of-value with unique…
Read MoreSkyBridge Bitcoin Fund, Investment Deck

Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, initiated a substantial position in bitcoin on behalf of its flagship funds in November and December and has recently launched…
Read MoreA Little Bitcoin Goes a Long Way

The world experienced a rare paradigm shift in technology usage when the Internet became available to the general population in the mid-1990s. This, in turn, led to the convergence of…
Read MoreWhat I Think of Bitcoin

This letter from Day Dalio, founder of the hedge fund, Bridgewater Associates, aims to clarify his thinking on Bitcoin. “I am writing this to clarify what I think of Bitcoin….
Read MoreBitcoin Valuation Primer (Part 1, Total Addressable Market)

Bitcoin has come a long way since its creation in 2009. The market cap of bitcoin recently reached 5% of the gold market. Institutional money has started trickling in, and…
Read MoreValuing Ethereum

Since launching in 2015, Ethereum has garnered significant interest as the second largest blockchain network. But even as the network has matured into a robust settlement layer for billions of…
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