Cover Note

I have been following the crypto story since 2014, and am enthusiastic about the potential that Blockchain offers in a world that is becoming increasingly information dense. I decided to build this site in response to some standard questions that I have been receiving about Bitcoin over the last many years. Each time, Crypto is on one of its blistering rallies, there is tremendous interest, and a lot of people look to get in on the action. However, when there is a drawdown — as there inevitably is, the tune changes.

In my personal view, Bitcoin, like any other asset that is volatile, runs in cycles that are based — in some way — on fundamentals. Until 2023, these fundamentals were a function of demand and supply that were easily quantifiable using hash rate and block rewards. In January 2024, when the US Securities and Exchange Commission ("SEC") approved 11 spot Bitcoin Exchange Traded Products ("ETP") the fundamentals altered substantially, with institutions and individuals having easier access on a regulated platform. Consequently, the investment management industry, with over USD 140 trillion in Assets Under Management, can now allocate to crypto exposure.

Blockchain technology is seeing silent advances too. The rapid decline in the cost of computing power and increasing internet bandwidth is supportive of broader blockchain adoption for asset tokenization and secure apps. Though public attention is currently consumed by AI, the astronomical investment in AI infrastructure will be a significant tailwind to tokenization and blockchain technology.

My personal view is that these strengthening fundamentals are a long-term positive signal for prices among the top Cryptocurrencies. Bitcoin, with its capped supply and first mover advantage, is poised to lead the charge and eventually become "digital gold".

Tracking the Crypto industry has always been a challenge, because most sources of information have a conflict of interest. In most mature securities markets, entities that publish research are restricted from speculating in the assets that they cover. Trading blackouts are implemented around the release of market moving information. This is not the case with Crypto, as there are no regulators monitoring research houses or intermediaries.

What I have done here, is to collect publicly released information from a variety of sources and tailor it to the specific Indian context, where currency movements can vary the outcome substantially.

If you have been wondering about Crypto, I hope this page gives you something useful about Bitcoin.