Amid market uncertainty due to the Coronavirus pandemic, there’s been a significant drop in dollars invested in high-risk assets by large financial institutions. As a new asset class, cryptoassets such as Bitcoin are not immune to similar investment behaviors. Nonetheless, on May 6th, our Research Associate, Eliezer Ndinga reported to Coindesk that the digital nature of cryptoassets with a finite and predictable supply — uncorrelated with current monetary and fiscal policies and with transportability that does not require social contact — have the chance to increasingly become an attractive asset.
As such, this is the perfect timing for a primer on the fundamentals of Bitcoin and the key factors driving its price action. The best chance to understand Bitcoin is by reasoning from first principles. This method breaks down the Bitcoin system into basic elements to get the big picture of its main value proposition.
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