Blockchain Capital Lures Bitcoin Analyst Away from Wall Street Firm


         Blockchain Capital Lures Bitcoin Analyst Away from Wall Street Firm

Blockchain Capital, one of the most prolific investment companies in the Bitcoin and blockchain ecosystem, has hired Spencer Bogart to take over as managing director and head of research. Bogart was previously employed at Wall Street firm Needham & Company, where he focused his research and analysis on bitcoin as a digital asset.

Who is Spencer Bogart?

Bogart is perhaps best known in the Bitcoin community as the author behind Needham & Company’s various reports on Bitcoin and blockchain technology. While most Wall Street analysts are lambasted by bitcoin believers due to their misunderstandings of the digital asset, Bogart’s knowledge of the technology has won him general praise from much of the community.

“We are excited to hire Spencer Bogart as managing director and head of research at Blockchain Capital,” Bart Stephens, a managing partner at the venture capital firm, told Bitcoin Magazine. “Spencer is the most respected and widely followed Wall Street research analyst to cover blockchain technology and Bitcoin. His industry research report on the blockchain, as a technology, was a seminal piece of research and is a reference point for hedge fund managers, other venture capitalists and sophisticated investors around the globe.”

In addition to his report on blockchain technology, Bogart has also released notes and reports on the future price of bitcoin and the prospects of approval for a potential bitcoin ETF.

Bogart’s New Role at Blockchain Capital

According to Stephens, Bogart will continue to release public reports and other writings as part of his role at Blockchain Capital.

“Spencer has a talent for deep due diligence in a nascent industry — blockchain technology,” said Stephens. “He has excellent company contacts and will be a valuable member of the Blockchain Capital investment team. Blockchain Capital will be publishing industry research reports, white papers and blog posts detailing our nuanced views on the industry.”

Bogart will also be working closely with Jeremy Gardner, who is best known for his work on the Augur project.

“My job, in addition to being an EIR [entrepreneur-in-residence] at the firm, is as a sort of ‘blockchain mercenary,’ working closely with entrepreneurs, researchers and executives across industries,” Gardner told Bitcoin Magazine. “As a result, I have been able to gain insights that Spencer will be able to infuse into his analysis.”

According to Bogart, he will be focusing more on early stage Bitcoin companies than he has in the past, but he will also continue his research on bitcoin as an asset.

Bogart on the Importance of Bitcoin as an Asset

While many Wall Street firms have been looking at the technology behind Bitcoin rather than the digital asset itself, Bogart views the bitcoin token as having a significant role in the ecosystem.

“I think the role and significance of bitcoin the asset is wildly underappreciated within the broader blockchain industry,” he told Bitcoin Magazine.

“This entire industry is still relatively early in its development and at this point I think the major opportunity in the space is around owning bitcoin the asset and funding the companies that are bringing this industry to fruition,” Bogart added.


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