Business
Investing in Porkchop and Spaghetti: Welcome to the next crypto craze – Sydney Morning Herald
Risk is running rampant in financial markets. As stocks trade at record valuations, cryptocurrency entrepreneurs are offering new digital coins at a torrid pace reminiscent of the Bitcoin boom three years ago.
“I lived through and profited through the 2017 crypto bubble and this feels somewhat reminiscent to it,” said Michael Novogratz, founder and chief executive officer of Galaxy Investment Partners in New York.
“It was the ICOs back then,” he said, referring to the initial coin offerings that were the cryptocurrency market’s equivalent to company IPOs on the sharemarket. “A new ICO every day and the herd would swim to that ICO and jam the price up and there’d be a frenzy of liquidity and price and…
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