investment strategies applied to Bitcoin. Our bubble model is defined as a geometric Brownian motion combined with separate crash … excess risk premium of the risky asset exposed to crashes is an increasing function of the amplitude of the expected crash … obtaining an analytic expression for maximizing the expected log of wealth (Kelly criterion) for the risky asset and a risk …

The cryptocurrency Bitcoin has been prominently featured in the news recently. Its ascension in value has been nothing … short of extraordinary. This article briefly explains what Bitcoin is and how it works. The more challenging question is … what Bitcoin — this cryptographic breakthrough — really is: currency, like the U.S. dollar, an asset, more like gold, or …