The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services, to engage in any money service business, or to promote, endorse, recommend, or transact in any virtual currency, token, or any other asset.

Content on this site reflects an opinion and is for information purposes only. Opinions expressed herein are solely those of Cane Island Digital Research, unless otherwise specifically cited.  Material presented is believed to be from reliable sources and no representations are made by our firm as to other parties’ informational accuracy or completeness. 

The information presented on this site does not constitute an offer to sell or the solicitation of an offer to sell or buy any security or provide any investment advisory services. The content provided on this site does not contain sufficient information for a prospective investor to make an investment decision and any information contained herein should not be used as a basis for this purpose. The content of this website does not constitute a recommendation or take into account the particular investment objectives, financial situations, or needs of any prospective investor. Investors should not construe the contents of this site as legal, tax, or investment advice, and should consult with their own advisor(s) concerning an investment in digital assets, cryptocurrency, or any security or commodity. Past performance is not necessarily indicative of future performance. The price and value of assets referred to in this research and the income from them may fluctuate. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from certain investments. The owner(s) and administrator(s) of this website and/or its affiliates may own assets mentioned on this website. This site contains information from third-party sources which has not been verified. With respect to information that may be shown, no guarantee can be made as to its accuracy or suitability for any purpose.

BITCOIN’S VALUE AND ASSOCIATED FORECASTS ARE THE ESTIMATED VALUE PER COIN OF THE NETWORK USING CANE ISLAND'S PROPRIETARY METHODOLOGY, BASED ON METCALFE'S LAW.  THIS VALUE IS AN ESTIMATED AND UNOBSERVABLE VALUE THAT ASSUMES AN EQUALLY MOTIVATED BUYER AND SELLER IN A MATURE AND REGULATED MARKET. THERE IS NO ASSURANCE THAT THE ACTUAL PRICE WILL REFLECT FAIR VALUE IN THE FUTURE. THE DATA PROVIDED IS AN UNINVESTABLE ECONOMIC INDEX. CANE ISLAND DIGITAL RESEARCH LLC MAKES NO WARRANTY AS TO THE SUITABILITY OF THIS INDEX FOR ANY PARTICULAR PURPOSE.

Bitcoin is a highly volatile asset, subject to manipulation, lack of regulatory oversight, and protective legal framework. Its value is largely derived from its acceptance as a store of value and a medium of exchange among those who use it. Consequently, its price may fluctuate widely and unexpectedly, resulting in long and short-term losses. Do not invest more than you can afford to lose.

Data provided in this document are indices. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. Cane Island Digital Research LLC does not sponsor, endorse, sell, promote, or manage any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. Cane Island Digital Research LLC makes no assurance that investment products based on the index will accurately track index performance or provide positive investment returns. Cane Island Digital Research LLC makes no representation regarding the advisability of investing in any such investment fund or other investment vehicle. A decision to invest in any such investment fund or other investment vehicle should not be made in reliance on any of the statements set forth in this document. Prospective investors are advised to make an investment in any such fund or other vehicle only after carefully considering the risks associated with investing in such funds, as detailed in an offering memorandum or similar document that is prepared by or on behalf of the issuer of the investment fund or other investment product or vehicle. Cane Island Digital Research LLC is not a tax or investment advisor. A tax or investment advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. The inclusion of a security within an index is not a recommendation by Cane Island Digital Research LLC to buy, sell, or hold such security, commodity, or any other asset, nor is it considered to be investment advice. Closing prices for indices are obtained by a third party and have not been verified for accuracy.

These materials have been prepared solely for informational purposes based upon information generally available to the public and from sources believed to be reliable. No content contained in these materials or any part thereof (“Content”) may be modified, reverse-engineered, reproduced, or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of Cane Island Digital Research LLC. The Content shall not be used for any unlawful or unauthorized purposes. Cane Island Digital Research LLC and its third-party data providers and licensors (collectively “Cane Island Digital Research LLC Parties”) do not guarantee the accuracy, completeness, timeliness, or availability of the Content. Cane Island Digital Research LLC Parties are not responsible for any errors or omissions, regardless of the cause, for the results obtained from the use of the Content. THE CONTENT IS PROVIDED ON AN “AS IS” BASIS. CANE ISLAND DIGITAL RESEARCH LLC PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM ERRORS OR DEFECTS. In no event shall Cane Island Digital Research LLC Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special, or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Content even if advised of the possibility of such damages.

In addition, Cane Island Digital Research LLC may provide a range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions, and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.

Cane Island Digital Research LLC, its owners, clients, and affiliates may have investment exposure to the assets described in this document. Cane Island Digital Research LLC may therefore be biased in its assessment of the factors, methodologies, and valuation results described in this report. There may be other factors, methodologies, and valuation results that could allow one to arrive at different and contrary conclusions to those in this report. We did not assess the effectiveness, accuracy, or suitability of this or any other set of factors, methodologies, or valuation results.

Charts and graphs are provided for illustrative purposes. Past performance is not necessarily an indication or guarantee of future results. The charts and graphs may reflect hypothetical historical performance. Index information presented herein is back-tested. Back-tested performance is not actual performance but is hypothetical. The back-test calculations are based on the same methodology that was in effect when the index(es) was officially launched. However, it should be noted that the historic calculations of an index may change from month to month based on revisions to the underlying data used in the calculation of the index.

Prospective application of the methodology used to construct the index(es) as well as revisions to data may not result in performance commensurate with the back-test data shown. The back-test period does not necessarily correspond to the entire available history of the index(es).

Another limitation of using back-tested information is that the back-tested calculation is generally prepared with the benefit of hindsight. Back-tested data and/or information reflects the application of the index methodology and selection of index constituents in hindsight. No hypothetical record can completely account for the impact of financial risk in actual trading. For example, there are numerous factors related to financial markets in general that cannot be and have not been accounted for in the preparation of the index information set forth, all of which can affect actual performance.

The index returns shown do not represent the results of the actual trading of investable assets/securities. Cane Island Digital Research LLC maintains the index(es) and calculates the index levels and performance shown or discussed, but does not necessarily manage actual assets associated directly with the index. Index prices do not reflect payment of any sales charges or fees an investor may pay to purchase the assets underlying the index(es) or investment funds that are intended to track the performance of the index(es). The index data shown would be reduced by the imposition of these fees and charges and would cause the back-tested performance of the securities/fund to be lower than the index data shown.

Unauthorized copying, reproduction, or reverse engineering of the code or underlying technology of this website is strictly prohibited. Any attempt to do so may violate applicable laws and regulations, and violators will be prosecuted to the fullest extent of the law. By accessing and using this website, you agree to abide by these terms. Applicable laws and regulations include but are not limited to: the United States Copyright Act of 1976, the Digital Millennium Copyright Act (DMCA), and relevant state-specific trade secret laws; the European Union's EU Copyright Directive (2001/29/EC) and Software Directive (91/250/EEC); and Australia's Copyright Act 1968 (Cth) and Crimes Act 1914 (Cth), specifically Part VIA which deals with computer offenses.

Research

Content made available through this website and other media is intended as purely educational and opinion. Most content is free, and any paid content consists of applied scholarly research covering macroeconomic and asset-specific trends. Content may also include insight and analysis relating to legislative and government trends. The research has a non-exclusive focus on digital assets that do not meet the definition of security as defined in the Securities Act of 1933 and as applied through the so-called Howey Test (Securities and Exchange Commission v. W. J. Howey Co., 328 U.S. 293 [1946]).

Some research material may be sold on a per-copy basis. The research does not include direct advice regarding a purchaser’s portfolio or portfolios and does not constitute actionable investment research. The term actionable refers to a business directive or investment strategy that can feasibly be accomplished shortly. Factors that may affect when decisions are actionable include fundamentals, technical factors, as well as market sentiment. These factors may be used, but not in a way that informs an actionable investment strategy because the reports are generic in nature and do not contain sufficient information for an individual to make an investment decision. Research content does not constitute a recommendation or take into account the particular investment objectives, financial situations, or needs of any prospective investor. This research is not legal, tax, or investment advice.

Owner/Operator does not manage digital assets for third parties, or recommend specific portfolio-based strategies for such assets, nor does it have any discretion or investment authority over, nor custody of, digital assets as they are commonly understood.

©2024 All rights reserved. No part of this website or its content may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the owner.