Bitcoin is many things to many people; why they choose to hold bitcoin depends on their circumstances and views of what bitcoin is today and what it could become in the future.
As the ecosystem matures, Bitcoin may simultaneously serve many functions – either foundationally or through incremental layers. One of the beautiful things about Bitcoin is that its success is not predicated on serving a singular purpose.
Many institutional investors think that digital assets have a place in a portfolio and believe they should be considered alongside other alternative investments. This insight led us to focus this report on the narrative that bitcoin, the first and most prominent digital asset, is an uncorrelated asset that can serve a similar role as an alternative investment in improving a portfolio’s risk-adjusted returns.