Opinions and analyses

A commonly held and reasonable view of why blockchain investing makes sense is that the technology is transformational on the scale of what the Internet did for businesses over the past twenty-four years, and possibly a lot more so. But just like the Internet boom of the dot-com-era (late 1990s) we are seeing a lot of hype, euphoria, and speculative buying of securities scarcely anybody understands. By most anecdotal estimates, less than 3% of blockchain tokens are actually being used to buy goods or services or real assets.

There are several primers out there on blockchain and cryptocurrencies — often used interchangeably, incorrectly — so I will not try to put forth another one here. Further, this post is not intended to be a guide to investing in cryptocurrencies (like Bitcoin), or the mechanics of investing in tokens/ICO, or a framework for professional investors to map tokens against existing equity investing paradigms.

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