Date

4-2023

Project Type

URC Presentation

Department

Finance and Economics

College or School

PAUL

Class Year

Senior

Major

Major in Business ADMN, Option in Finance, Minor in Economics

Faculty Research Advisor

Michael Hanlon

Abstract

Companies like Coinbase, Robinhood, and MicroStrategy rely on Bitcoin as an integral part of their business model. My research speculates on reasons for the closely related price movement of Bitcoin and these three publicly traded financial technology firms. Bitcoin gradually has been integrating into our financial systems. This paper explores opportunities and threats to Bitcoin and crypto fintech firms, as well as their reaction to the current macroeconomic landscape. While Bitcoin faces major hurdles like volatility and media distrust, its’ persistence thus far has been driven by the disruptiveness of its’ underlying technology. As institutions begin to orient themselves towards a future cryptoeconomy, uncertainty in this space will settle. A future cryptoeconomy will have benefits for all types of people including citizens of developing countries, independent artists, and the media industry. Benefits include increased access, security, and freedom as well as lower costs to send and receive money. This paper investigates the state of Coinbase, Robinhood, and MicroStrategy as they are pioneers of the crypto movement. Information is provided on the viability of these companies as crypto investments, and how they compare to Bitcoin.

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