Mastering Crypto Assets

Martin Leinweber , Jörg Willig , Steven A. Schoenfeld 지음

Wiley 2024년 01월 18일 출간

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A definitive, all-encompassing book on digital assets of all types for investors In Mastering Crypto Assets: Investing in Bitcoin, Ethereum and Beyond, a team of seasoned investors and digital asset strategists presents a comprehensive guide aimed at institutional and professional investors for integrating crypto assets into traditional portfolios. The book offers in-depth explanations of the structure of this new asset class and its impact on investment portfolios. It guides readers on using fundamental and quantitative criteria to select blockchain-based assets, grounded in a robust foundation of knowledge and evidence. The authors demonstrate how to apply quantitative valuation concepts to digital assets like Bitcoin, understanding their role as digital stores of value in a traditional investment portfolio. The book also delves into the unique risk and return characteristics of various digital asset sectors, adapting conventional investing methods to the digital realm. It goes beyond direct crypto asset investments, introducing related equities and strategies for accessing digital assets in restricted settings. It discusses both indexed and active strategies in the context of crypto assets. A key feature of the book is exclusive interviews with industry figures such as Jan van Eck (VanEck), Peter L. Brandt (Legendary Trader), and Fred Thiel (Marathon Digital), with these interviews accessible through QR codes in the book for extended video content. This provides a dynamic and interactive learning experience. Moreover, the book benefits from invaluable research assistance from Figment and CCData, enriching its analytical depth. It also includes insightful guest articles from digital asset experts like Matthew Sigel (VanEck), Marco Manoppo (Digital Asset Research), Marcel Kasumovich (Coinbase Asset Management), Timothy Peterson (Cane Island Digital Research), Gregory Mall and Rohan Misra (AMINA), and thought leade

목차

Acknowledgments ix Preface xi Chapter 1: Introduction. 1 Chapter 2: Bitcoin— A Brief History 3 2.1 From the Fuel Card to the Trustless Payment System 4 2.2 Enter Satoshi Nakamoto 7 2.3 Bitcoin and Blockchain: A Closer Look 9 2.4 The Fundamentals of Bitcoin 11 2.5 The Driving Forces behind the Rise of Bitcoin 15 2.6 Interview with Fred Thiel 17 2.7 References 25 Chapter 3: The Taxonomy of Crypto Assets 27 3.1 Navigating the Crypto Categorization 27 3.2 The Difference between Token and Coin 29 3.3 Payments 30 3.4 Stablecoins 35 3.5 Smart Contract Platforms 41 3.6 Infrastructure Applications 51 3.7 Centralized Exchanges 57 3.8 Decentralized Finance 61 3.9 Non- fungible Tokens 66 3.10 Media and Entertainment 68 3.11 Conclusion 74 3.12 References 74 Chapter 4: Valuation of Crypto Assets 77 4.1 Tokens Explained: What They Are and Why They Matter 77 4.2 Value Capturing in Crypto: Market Dynamics 82 4.3 Due Diligence: The Importance of Digital Asset Vetting 88 4.4 The Network Effect and Metcalfe’s Law 97 4.5 Statistical Valuation Approach 111 4.6 References 115 Chapter 5: Cryptos as an Asset Class. 117 5.1 Characteristics of an Asset Class 117 5.2 Conventional Asset Classes 118 5.3 Crypto Assets 140 5.4 Crypto Assets in the Portfolio Context 154 5.5 Crypto Stocks: Alternative, Addition, or Neither? 164 5.6 Interview with Jan van Eck 175 5.7 Conclusion 189 5.8 References 190 Chapter 6: Asset Allocation. 193 6.1 Foundations of Asset Allocation 194 6.2 Approaches to Asset Allocation 202 6.3 Navigating Crypto Cycles—More Than a Story 209 6.4 Influence of Different Crypto Asset Allocations 219 6.5 Dynamic Risk Management 229<

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저자(글) Martin Leinweber

저자(글) Jörg Willig

저자(글) Steven A. Schoenfeld