At the heart of the digital transformation reshaping financial markets, digital assets are emerging as one of the most disruptive and controversial innovations. Born as instruments of disintermediation and economic freedom, they now represent a fully fledged emerging asset class, capable of attracting institutional capital, regulatory attention and growing interest from sophisticated asset managers. Yet while the return potential is high, the structural volatility of these instruments forces...

Data shows that BTC’s “average annual returns have gradually declined, with no peaks at all in the last cycle, confirming the hypothesis that Bitcoin's risk/return structure has changed.” The phenomenon of financial bubbles is hotly debated among industry operators, and there are several academic papers on the subject, starting with Professor Didier Sornette’s 2014 study of financial bubbles. In fact, the paper defines a “bubble” as a period of unsustainable growth with prices rising faster...

In an increasingly competitive and fragmented financial environment, a new need arises for family offices, entrepreneurs and...