Is Cryptocurrency an Asset Class Worth Considering?
by Kathryn Tully of BNY Mellon
Cryptocurrencies are NOT currencies, as they usually fail the ‘store of value’ test (way too much volatility and subject to crazy manipulation). But in today’s fanciful environment of negative real interest rates, interest in them grows, even among some institutions.
"Plagued by exchange hacks, fraud, lost keys and broken dreams, the nascent cryptocurrency market, which lost nearly $700 billion from its total market capitalization last year, is showing signs of a resurgence."