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| Boilerpipe Text | December 28, 2025
Investor Letters
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April 2, 2026
Clarity Act Update
4/2/2026
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March 26, 2026
Bitcoin’s New Demand Driver
3/26/2026
Research
March 20, 2026
STRC, SATA, and the Bitcoin-Backed Preferred Family
3/20/2026
Video
March 16, 2026
Bitcoin Finds its Footing
3/16/2026
Research
March 13, 2026
Historical Parallels: The 2022 Cycle and Today’s Drawdown
3/13/2026
Video
March 11, 2026
AI Market Anxiety
3/11/2026
Greg Cipolaro
March 20, 2026
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February 27, 2026
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Ross Stevens
September 25, 2024
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March 20, 2026
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March 16, 2026
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March 13, 2026
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March 11, 2026
Ben Lawsky and Pete Janney
April 2, 2026
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January 21, 2026
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July 28, 2021
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### Stone Ridge 2025 Investor Letter
[Stone Ridge 2025 Investor Letter](https://www.nydig.com/research/stone-ridge-2025-investor-letter)
Stone Ridge 2025 Investor Letter
Ross Stevens
December 28, 2025
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Stone Ridge 2025 Investor Letter
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[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
Clarity Act Update
### Clarity Act Update
[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
Clarity Act Update
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April 2, 2026
Clarity Act Update
4/2/2026

[Bitcoin’s New Demand Driver](https://www.nydig.com/research/bitcoins-new-demand-driver)
Bitcoin’s New Demand Driver
### Bitcoin’s New Demand Driver
[Bitcoin’s New Demand Driver](https://www.nydig.com/research/bitcoins-new-demand-driver)
Bitcoin’s New Demand Driver
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March 26, 2026
Bitcoin’s New Demand Driver
3/26/2026

[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
### STRC, SATA, and the Bitcoin-Backed Preferred Family
[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
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March 20, 2026
STRC, SATA, and the Bitcoin-Backed Preferred Family
3/20/2026

[Bitcoin Finds its Footing](https://www.nydig.com/research/bitcoin-finds-its-footing)
Bitcoin Finds its Footing
### Bitcoin Finds its Footing
[Bitcoin Finds its Footing](https://www.nydig.com/research/bitcoin-finds-its-footing)
Bitcoin Finds its Footing
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March 16, 2026
Bitcoin Finds its Footing
3/16/2026

[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
### Historical Parallels: The 2022 Cycle and Today’s Drawdown
[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
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March 13, 2026
Historical Parallels: The 2022 Cycle and Today’s Drawdown
3/13/2026

[AI Market Anxiety](https://www.nydig.com/research/ai-market-anxiety)
AI Market Anxiety
### AI Market Anxiety
[AI Market Anxiety](https://www.nydig.com/research/ai-market-anxiety)
AI Market Anxiety
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AI Market Anxiety
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### STRC, SATA, and the Bitcoin-Backed Preferred Family
[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
Greg Cipolaro
March 20, 2026
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[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
[](https://www.nydig.com/research)

[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
### Historical Parallels: The 2022 Cycle and Today’s Drawdown
[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
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March 13, 2026
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[Bitcoin, Not Software Stocks](https://www.nydig.com/research/bitcoin-not-software-stocks)
Bitcoin, Not Software Stocks
### Bitcoin, Not Software Stocks
[Bitcoin, Not Software Stocks](https://www.nydig.com/research/bitcoin-not-software-stocks)
Bitcoin, Not Software Stocks
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March 6, 2026
[](https://www.nydig.com/research)

[Bitcoin in the Age of AI](https://www.nydig.com/research/bitcoin-in-the-age-of-ai)
Bitcoin in the Age of AI
### Bitcoin in the Age of AI
[Bitcoin in the Age of AI](https://www.nydig.com/research/bitcoin-in-the-age-of-ai)
Bitcoin in the Age of AI
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February 27, 2026
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[Correct “Coinbase Premium” Implies Capital Flight](https://www.nydig.com/research/correct-coinbase-premium-implies-capital-flight)
Correct “Coinbase Premium” Implies Capital Flight
### Correct “Coinbase Premium” Implies Capital Flight
[Correct “Coinbase Premium” Implies Capital Flight](https://www.nydig.com/research/correct-coinbase-premium-implies-capital-flight)
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February 20, 2026
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[Bitcoin’s Cycle Reasserts Itself: Where We Are and What Comes Next](https://www.nydig.com/research/bitcoins-cycle-reasserts-itself-where-we-are-and-what-comes-next)
Bitcoin’s Cycle Reasserts Itself: Where We Are and What Comes Next
### Bitcoin’s Cycle Reasserts Itself: Where We Are and What Comes Next
[Bitcoin’s Cycle Reasserts Itself: Where We Are and What Comes Next](https://www.nydig.com/research/bitcoins-cycle-reasserts-itself-where-we-are-and-what-comes-next)
Bitcoin’s Cycle Reasserts Itself: Where We Are and What Comes Next
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Research
February 6, 2026
[](https://www.nydig.com/research)

[Speculation in an Attention-Constrained Market](https://www.nydig.com/research/speculation-in-an-attention-constrained-market)
Speculation in an Attention-Constrained Market
### Speculation in an Attention-Constrained Market
[Speculation in an Attention-Constrained Market](https://www.nydig.com/research/speculation-in-an-attention-constrained-market)
Speculation in an Attention-Constrained Market
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January 30, 2026
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### Bitcoin's Protection under the First Amendment
[Bitcoin's Protection under the First Amendment](https://www.nydig.com/research/bitcoins-protection-under-the-first-amendment)
Bitcoin's Protection under the First Amendment
Ross Stevens
September 25, 2024
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Bitcoin's Protection under the First Amendment
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[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
Clarity Act Update
### Clarity Act Update
[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
Clarity Act Update
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April 2, 2026
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[Bitcoin’s New Demand Driver](https://www.nydig.com/research/bitcoins-new-demand-driver)
Bitcoin’s New Demand Driver
### Bitcoin’s New Demand Driver
[Bitcoin’s New Demand Driver](https://www.nydig.com/research/bitcoins-new-demand-driver)
Bitcoin’s New Demand Driver
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March 26, 2026
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[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
### STRC, SATA, and the Bitcoin-Backed Preferred Family
[STRC, SATA, and the Bitcoin-Backed Preferred Family](https://www.nydig.com/research/strc-sata-and-the-bitcoin-backed-preferred-family)
STRC, SATA, and the Bitcoin-Backed Preferred Family
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March 20, 2026
[](https://www.nydig.com/research)

[Bitcoin Finds its Footing](https://www.nydig.com/research/bitcoin-finds-its-footing)
Bitcoin Finds its Footing
### Bitcoin Finds its Footing
[Bitcoin Finds its Footing](https://www.nydig.com/research/bitcoin-finds-its-footing)
Bitcoin Finds its Footing
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March 16, 2026
[](https://www.nydig.com/research)

[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
### Historical Parallels: The 2022 Cycle and Today’s Drawdown
[Historical Parallels: The 2022 Cycle and Today’s Drawdown](https://www.nydig.com/research/historical-parallels-the-2022-cycle-and-todays-drawdown)
Historical Parallels: The 2022 Cycle and Today’s Drawdown
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March 13, 2026
[](https://www.nydig.com/research)

[AI Market Anxiety](https://www.nydig.com/research/ai-market-anxiety)
AI Market Anxiety
### AI Market Anxiety
[AI Market Anxiety](https://www.nydig.com/research/ai-market-anxiety)
AI Market Anxiety
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March 11, 2026
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### Clarity Act Update
[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
Clarity Act Update
Ben Lawsky and Pete Janney
April 2, 2026
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[Clarity Act Update](https://www.nydig.com/research/clarity-act-update)
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[Crypto-specific stress or broader cross-asset de-risking?](https://www.nydig.com/research/crypto-specific-stress-or-broader-cross-asset-de-risking)
Crypto-specific stress or broader cross-asset de-risking?
### Crypto-specific stress or broader cross-asset de-risking?
[Crypto-specific stress or broader cross-asset de-risking?](https://www.nydig.com/research/crypto-specific-stress-or-broader-cross-asset-de-risking)
Crypto-specific stress or broader cross-asset de-risking?
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March 16, 2026

[Bitcoin Update: Navigating the Drawdown](https://www.nydig.com/research/bitcoin-update-navigating-the-drawdown)
Bitcoin Update: Navigating the Drawdown
### Bitcoin Update: Navigating the Drawdown
[Bitcoin Update: Navigating the Drawdown](https://www.nydig.com/research/bitcoin-update-navigating-the-drawdown)
Bitcoin Update: Navigating the Drawdown
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March 16, 2026

[Bitcoin Update: The State of U.S. Crypto Regulation](https://www.nydig.com/research/bitcoin-update-the-state-of-u-s-crypto-regulation)
Bitcoin Update: The State of U.S. Crypto Regulation
### Bitcoin Update: The State of U.S. Crypto Regulation
[Bitcoin Update: The State of U.S. Crypto Regulation](https://www.nydig.com/research/bitcoin-update-the-state-of-u-s-crypto-regulation)
Bitcoin Update: The State of U.S. Crypto Regulation
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February 17, 2026

[NYDIG Bitcoin Update: 2026 Themes](https://www.nydig.com/research/nydig-bitcoin-update-2026-themes)
NYDIG Bitcoin Update: 2026 Themes
### NYDIG Bitcoin Update: 2026 Themes
[NYDIG Bitcoin Update: 2026 Themes](https://www.nydig.com/research/nydig-bitcoin-update-2026-themes)
NYDIG Bitcoin Update: 2026 Themes
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February 17, 2026

[NYDIG Bitcoin Update: Bitcoin's Evolution](https://www.nydig.com/research/nydig-bitcoin-update-bitcoins-evolution)
NYDIG Bitcoin Update: Bitcoin's Evolution
### NYDIG Bitcoin Update: Bitcoin's Evolution
[NYDIG Bitcoin Update: Bitcoin's Evolution](https://www.nydig.com/research/nydig-bitcoin-update-bitcoins-evolution)
NYDIG Bitcoin Update: Bitcoin's Evolution
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January 21, 2026

[NYDIG Bitcoin Update](https://www.nydig.com/research/nydig-bitcoin-update-12-18-25)
NYDIG Bitcoin Update
### NYDIG Bitcoin Update
[NYDIG Bitcoin Update](https://www.nydig.com/research/nydig-bitcoin-update-12-18-25)
NYDIG Bitcoin Update
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January 21, 2026
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### NYDIG Bitcoin 101
[NYDIG Bitcoin 101](https://www.nydig.com/research/nydig-bitcoin-101)
NYDIG Bitcoin 101
April 27, 2021
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Resources

[NYDIG Bitcoin 101](https://www.nydig.com/research/nydig-bitcoin-101)
NYDIG Bitcoin 101
[](https://www.nydig.com/research)

[Developers of Bitcoin](https://www.nydig.com/research/developers-of-bitcoin)
Developers of Bitcoin
### Developers of Bitcoin
[Developers of Bitcoin](https://www.nydig.com/research/developers-of-bitcoin)
Developers of Bitcoin
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[A Primer On Bitcoin Mining](https://www.nydig.com/research/a-primer-on-bitcoin-mining)
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April 29, 2022
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[Taproot: Explaining Bitcoin’s Biggest Upgrade in Four Years](https://www.nydig.com/research/taproot-explaining-bitcoins-biggest-upgrade-in-four-years)
Taproot: Explaining Bitcoin’s Biggest Upgrade in Four Years
### Taproot: Explaining Bitcoin’s Biggest Upgrade in Four Years
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November 11, 2021
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[The Impact of Bitcoin’s Reward Halvings](https://www.nydig.com/research/the-impact-of-bitcoins-reward-halvings)
The Impact of Bitcoin’s Reward Halvings
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July 28, 2021
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[Bitcoin’s Long-Term Compounding Effects](https://www.nydig.com/research/bitcoins-long-term-compounding-effects)
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July 19, 2021
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[The Temporalities of Bitcoin Returns](https://www.nydig.com/research/the-temporalities-of-bitcoin-returns)
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February 18, 2021
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