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Mark Valek

Portfolio Management
& Research

Riley Corbet


Leonard Wachter


About the Crypto Research Report

Decrypting the world of crypto assets


he Crypto Research report is produced by Incrementum. Mark Justin Valek, and Demelza Hays are responsible for the report.

As a sister report to the internationally acclaimed,
In Gold We Trust Report
, the Crypto Research Report brings the same quality and rigor to understanding the cryptocurrency market.

Our mission is to decrypt the world of Crypto Assets in a comfortably readable format, while at the same time being independent, non-banking research for a financially interested audience.

»Great work done by Demelza and her team. Such efforts are needed to deepen our understanding of this nascent technology and, of course, educate the market – thank you!«
Dr. Arthur Vayloyan
CEO Bitcoin Suisse AG

The structure of each report is similar, with revolving chapters:

Chapter While you were asleep

A quarterly review of the market

Chapter Coin Corner

Analysis on specific tokens (no investment advice)

Chapter Crypto Concepts

Endeavoring into concepts relevant to the crypto world

Chapter Exclusive Interviews
Exclusive interviews on current crypto related issues

»Out of knowledge of money comes freedom.«


About the authors

Incrementum’s growing crypto team has expertise in risk management, portfolio management, operation research, economics, and statistics. Prior to the establishment of Incrementum AG, Mark Valek was with Raiffeisen Capital Management for ten years, most recently as fund manager in the area of inflation protection and alternative investments. Demelza Hays teaches a course on cryptocurrency at the University of Liechtenstein and operates a Bitcoin ATM in Liechtenstein.

She  has been conducting research in the field of crypto-related assets since 2013. Her articles have been published in several distinguished print and online magazines including Süddeutsche Zeitung, Forbes, Zerohedge, Frankfurter Allgemeine Zeitung, and Der Standard.

At Incrementum, Demelza Hays is currently developing innovative investment solutions in the field of cryptocurrencies. While researching microfinance in India under the auspices of the U.S. Department of State Fulbright Scholarship, Demelza learned about the cryptocurrency Bitcoin. Over the years, Demelza has established herself as a leading researcher and internationally recognized writer on the topic.

Prior to joining the University of Liechtenstein as a Ph.D. student in Business Economics, Demelza completed her Master’s in Economics at the Toulouse School of Economics. Currently, Demelza is researching the role of cryptocurrency in asset management. At the Imperial College in London, Demelza is a blockchain researcher for former Chief Economist of the U.S. Commodity Futures Trading Commission (CFTC), Professor Dr. Andrei Kirilenko. Outside of her academic research, Demelza organizes the Blockchain Meetup in Liechtenstein.

Our newest additions to the team are Andrés Coronado a student in the Master’s in Finance program at the University of Liechtenstein, and Friederich Zapke, a student in the Master’s in Operations Research at Columbia University.



Incrementum Team

About Incrementum AG

Incrementum AG is an owner-managed and fully licensed asset manager & wealth manager based in the Principality of Liechtenstein.

What makes us stand out in the asset management space? We evaluate all our investments not only from a global economic perspective, but also by taking into account global monetary dynamics. This analysis produces what we consider a truly holistic view of the state of financial markets. We believe our profound understanding of monetary history, out-of-the-box reasoning and prudent research allows our clients to prosper in this challenging market environment.

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