A valuation of crypto giant — Digital Currency Group — This post was originally published on August 21, 2019, and sent to Messari Pro subscribers. Click here to access all of our historical content. Introduction Compared to traditional startups, crypto companies and projects have had an easier time getting their hands on cash — whether it’s through conducting a $4 billion…

Futures and options and swaps, oh my! — This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. What do Thales of Miletus and hedge fund managers have in common? They use derivatives to speculate on the future. In pre-Socratic Greece, Thales believed a bountiful…

A look at the last 75 years of monetary policy — This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. We’re all here because of the creation of a decentralized, non-sovereign asset called Bitcoin. Bitcoin has caused millions of people to re-imagine the very essence of money…

Statistically significant data confirming the popular hypothesis — April 24, 2019 This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. You can view the original post here For professional investors, life is measured in terms of alpha, the excess return an active manager earns…

Understanding the scale of the world’s largest crypto exchanges April 11, 2019 This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. You can view the original post here During the bull run in 2017, cryptoasset prices soared and irrational exuberance was rampant. The now infamous…

March 6, 2019 This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. You can view the original post here When you say it out loud, it might sound like something is stuck in your throat. But…

Examining the origin of a century-old economic ideology and how bitcoin invalidates many of its core principles. — This was originally sent to subscribers of Messari’s Unqualified Opinions. Click here to become a subscriber and access all of our historical content. What is money? For something so pervasive in our day-to-day lives, it is unfortunate that people don’t ask themselves this question more often. Most people simply equate money with those…

Intro Humans like to argue. It’s in our nature. Take any facet of human experience and you can find two people who disagree on it. Nowhere is this more prevalent than in the realm of governance, where we argue who should have power, who gets to make changes to the system…

An Analysis into CDP Demand — Last week, Hasu posted a great analysis of Maker Dai and its ability to scale. In summary, he explained how unlike other stablecoins, the supply is not directly linked to the demand due to the lack of direct redemption for the underlying peg. Rather it is the demand to take…