Topics in Cryptocurrency Investing
Leonard N. Stern School of Business: Finance
A cryptocurrency is an emerging asset class representing the intersection of disruptive early stage technology, liquid capital markets and new use cases and business models. This class focuses on understanding the investment implications of the cryptocurrencies being created at this intersection point. As of December 2017, over 1000 tokens were listed on exchanges throughout the world with Bitcoin and Ether being the two largest in market capitalization terms. The total capitalization of cryptocurrencies expanded by more than a factor of 10 in 2017. This in turn has led to expanded media coverage and debate concerning cryptocurrency’s role and value to society. The academic objectives of this course are threefold. (1) To explore the fundamental aspects of cryptocurrencies and the liquid markets they operate in (2) To test select psychological biases/heuristics associated with these cryptocurrencies and the regulatory dynamics overlaid on it and (3) To discuss practical implications of investing in these cryptocurrencies from limits to arbitrage to portfolio impacts across a range of asset classes.
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FINC-GB 3180