To misquote celebrity chef Ina Garten: “How dangerous is this?”
Boston College’s Carroll School of Management recently published a study of initial coin offerings (#ICO) concluding:
“We find evidence of significant ICO underpricing, with average returns of 179% from the ICO price to the first day’s opening market price, over a holding period that averages just 16 days. .. It suggests that scams, while plentiful in number, are not as important in terms of stolen capital because investors are shrewd enough to spot (and underfund) them.”
The wisdom of the crowd?
Feeding the mania is probably not a great idea.
But as our President says, we shall see…