Traditional wisdom in financial reporting holds that it is unethical to be heavily invested in an asset you are covering.
After all, it’s tricky to be impartial when writing about a project on which vast tracts of your wealth depend. Just as a reader might appraise warily a report on Apple’s glowing financials written by, say, Tim Cook, a reader of the venerable Coinqueefer would be rightly skeptical when the daily exhortation to “Buy More PIG” is written by somebody using his daughter’s college fund to buy more PIG.
It is not a good look—this much should seem obvious.
But it’s not obvious to cryptocurrency people. Some months ago, the investment strategist Lyn Alden argued, in a widely shared series of tweets, that holding cryptocurrencies is actually essential for covering the crypto markets. Her argument was that holding Bitcoin is now so lucrative that not holding it is likely to produce its own sort of bias.
“It’s understandable that you can’t own some minor altco
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