Too Long; Didn't Read
ICOs have quickly grown to rival early stage venture financing in 2017. How should investors think about this new asset class is a question I personally find fascinating. My fascination stems from the fact that this phenomenon is both a real revolution with enormous potential and an irrational bubble, a kind of “irrational exuberance of shitcoins”, to paraphrase Mr. Greenspan’s famous reference to the 90s stock bubble.