Kraken Intelligence, the research arm of the Kraken cryptocurrency exchange, tries to identify the intrinsic value of Bitcoin. Many people question what the intrinsic value of Bitcoin is, and Kraken Intelligence, the intelligence wing of the Kraken crypto exchange, works on answering this question. Although it is hard to precisely define the entire intrinsic value basis of Bitcoin, it should still be explored to better understand the cryptocurrency. In the full report released by Kraken Intelligence, they examine the potential intrinsic value of Bitcoin through four different topics: • Stocks and bonds • Intangible assets • Commodities • Uncorrelated assets With stocks and bonds being one of the most purchased and sold assets, they generate value through the production of cash flow. Kraken Intelligence weighs in on Bitcoin’s approach on this. As far as intangible assets, Kraken Intelligences breaks down the uniqueness of Bitcoin and its features. Does Bitcoin have utility as a commodity? Does it compared with gold? Kraken Intelligence always weighs in on this aspect of Bitcoin’s value. Throughout the entire report, Kraken Intelligence uses many different valuation models, such as financial models based around real estate, collectibles, and fiat currencies.