Bloomberg Businessweek Evolving Money: Diversifying with Digital Assets (Sponsored Content)
Mar 29, 2026
Cosmo Jiang, general partner at Pantera Capital who focuses on blockchain investing, and Omid Malikin, Wall Street veteran and Columbia adjunct who studies Bitcoin, discuss digital assets. They compare Bitcoin’s monetary role and portability to gold, explain different buckets like tokens, protocols, and DeFi, and explore how blockchain intersects with AI and portfolio construction.
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Bitcoin Is Hard Currency With Digital Plumbing
- Bitcoin is a hard currency plus a universal payment system that combines scarcity with instant transacting across the internet.
- Omid Malikin contrasts Bitcoin's portability to gold using Ukraine donations and private keys that move value across borders instantly.
Ukraine Donations Show Bitcoin's Crisis Use
- Malikin uses Ukraine donations to illustrate Bitcoin's transportability during crisis when gold would be immovable.
- He emphasizes that memorizing or transferring a private key could give officials immediate purchasing power in exile.
Bitcoin's Behavioral Profile Evolves Over Cycles
- Bitcoin's correlation profile has shifted over time, behaving like flight-to-quality, a risk asset, and sometimes moving with equities depending on cycles.
- Malikin argues correlations have recently broken down and may evolve toward acting as monetary insurance over longer horizons.