Investing in Crypto? Here’s A Book Ya Might Want to Grab
This week while sipping on an espresso drink one morning at a local San Diego coffeehouse, I started conversing with the man next to me. When I mentioned to him that I was a Bitcoin writer, he immediately perked up with interest. With notepad in hand, he because asking me what seemed like an endless stream of complex questions about crypto investing. Embarrassingly, I couldn’t answer most of them.
Thankfully I had a copy of a book entitled Cryptoassets: The Innovative Investors Guide to Bitcoin and Beyond in my briefcase, which I recently read. He excitedly perused through the pages before pulling out his mobile phone to snap a picture of the front cover.
Whenever I find myself feeling like a deer in headlights amid a torrent of crypto investing questions I refer people to this book. Written by cryptocurrency investment experts Chris Burniske and Jack Tatar this 325-page read is a gem for both experienced investors and newbies alike.
Their main premise? With the rise of bitcoin and blockchain technology investors have a golden opportunity to participate in arguably the greatest period of value creation our world has seen since the advent of the Internet.
This book skillfully introduces readers to an entirely new asset class that Burniske and Tatar affectionately refer to as “cryptoassets.” They prefer this term because a number of these so-called crypto tokens aren’t really currencies at all.
While Bitcoin has the distinction of being the first cryptoasset, today there are over 900 and counting, including ether, ripple, litecoin, monero, and more. This clear, concise, and easy to understand guide offers some savvy advice for navigating today’s brave new blockchain world, including specific tools on how to invest in these emerging assets to assess your financial future.
As occurred this morning, the vast majority of the people I cross paths with are immediately curious about my opinion on a number of related topics Questions like “is it a stable investment or bubble ” emanate from their mouth.
While leaving history to decide the majority of these questions, one thing is abundantly clear; tons of money will change hands in this market over the next decade.
One of the things I particularly like about this book is its practicality and ease of use. In my opinion, it’s the first book to comprehensively explain the future of crypto investing. It explores distinctions between cryptocurrencies, cryptocommodities, and cryptotokens. It begins with a bit of history about Bitcoin’s genesis followed by a deep dive into the equation of exchange, which the authors believe is a critical a starting point for understanding the utility of cryptoassets and their value.
In delivering solid advice for the everyday investor, the book examines a broad spectrum of areas germane to this budding industry such as governance, monetary policies, and historical periods of rampant speculation. It also offers a broad, historical evolution of Bitcoin, as well as an actionable valuation and due diligence framework for evaluating and crafting new asset portfolios.
Readers will also be introduced to a variety of methods for investing in these assets, whether through global exchanges trading or initial cryptoasset offerings (ICOs). Each chapter builds upon each prior one, delivering a full understanding of the cryptoasset economy and the opportunities that await the innovative investor.
In many respect, I would compare it to Benjamin Graham’s book The Intelligent Investor, which has long been the go-to guide for traditional investment professionals.
So if like me you have people constantly reaching out to you for crypto investment advice, this book might be your saving grace guide to refer them to. Or it just may be the book you’re looking for to sort through the complexities associated with this rapidly growing space in your own mind.
Either way, it’s a stellar resource for evaluating and valuing cryptocurrencies as a part of assessing this new asset class. Because cryptoassets represent the new normal for money and markets, his book is your guide to that future.